Guideline Value for Ramani Nagar

Ramani Nagar guideline value

The current guideline value of Ramani Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,500 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Commercial Class I Type - III.

How the guideline value of Ramani Nagar has changed

In the 2023 revision, the guideline value for Ramani Nagar was Rs 2,500 per sq.ft. The 2024 revision also reflects the same figure of Rs 2,500 per sq.ft, indicating no change between these two revisions. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

As such, the guideline value has remained consistent at Rs 2,500 per sq.ft from 2023 to 2024, with no recorded changes in the previous years. This stability in the guideline value suggests a consistent valuation for the property in this area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Ramani Nagar is above this median, indicating a higher valuation compared to many other streets in the village.

• Ramani Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Ramani Nagar (Ward No.25): Rs 1,300 per sq.ft (2024)
• Raman Nagar: Rs 2,200 per sq.ft (2024)
• Raman Nagar, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Ramana Nagar / Extension: Rs 2,200 per sq.ft (2024)
• Ramana Avenue (Ward-08): Rs 2,200 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 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramani Nagar?

The Sub Registrar Office that covers Ramani Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Madhavaram, as it determines the minimum value at which properties can be registered. When a property is sold, the registration fees and stamp duties are calculated based on this guideline value, ensuring a standardized approach to property valuation.

Frequently asked questions

What is the current guideline value of Ramani Nagar?

The current guideline value of Ramani Nagar is Rs 2,500 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ramani Nagar has remained at Rs 2,500 per sq.ft for both the 2023 and 2024 revisions. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Ramani Nagar?

Ramani Nagar is classified as Commercial Class I Type - III. This classification can influence the types of developments and activities permitted in the area.

What are the stamp duty and registration fees for properties in Ramani Nagar?

The stamp duty for a property valued at Rs 25,00,000 in Ramani Nagar would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the Ramani Nagar area.