Guideline Value for Ramani Nagar

Ramani Nagar guideline value

The current guideline value of Ramani Nagar, located in Irumpuliyur village under the Tambaram Joint 1 SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Ramani Nagar has changed

The guideline value for Ramani Nagar has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. The value then rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Ramani Nagar's 2024 figure above this median.

• Ramani Nagar Extn: Rs 2,530 per sq.ft (2024)
• Ramani Nagar Extn PART-II: Rs 2,530 per sq.ft (2024)
• Ramanujam Street: Rs 880 per sq.ft (2024)
• Rathinakumar Avenue: Rs 1,320 per sq.ft (2024)
• Rajesh Nager: Rs 1,100 per sq.ft (2024)
• Roja Thottam 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ramani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ramani Nagar?

The Sub Registrar Office that covers Ramani Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Irumpuliyur

The guideline value is a crucial factor when registering a property in Irumpuliyur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives a fair revenue from property transactions.

When buying or selling property, it is essential to consider the guideline value, as it impacts the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating duties and fees.

Frequently asked questions

What is the current guideline value of Ramani Nagar?

The current guideline value of Ramani Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What are the other streets in Irumpuliyur and their guideline values?

Other streets in Irumpuliyur include Ramani Nagar Extn and Ramani Nagar Extn PART-II at Rs 2,530 per sq.ft, Ramanujam Street at Rs 880 per sq.ft, Rathinakumar Avenue at Rs 1,320 per sq.ft, Rajesh Nager at Rs 1,100 per sq.ft, and Roja Thottam 1st Street at Rs 1,650 per sq.ft, all for 2024.

What is the stamp duty rate for property in Ramani Nagar?

The stamp duty rate for property transactions in Ramani Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramani Nagar?

The Sub Registrar Office for Ramani Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.