Guideline Value for Ramani Nagar

Ramani Nagar guideline value

The current guideline value of Ramani Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Ramani Nagar has changed

The guideline value for Ramani Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 164 per sq.ft. This increased to Rs 178 per sq.ft in 2003, marking a change of +9%. The value further rose significantly to Rs 700 per sq.ft in 2007, a change of +293%. In 2012, the value was Rs 2,500 per sq.ft, reflecting a decrease of -33% from the previous revision. The 2017 revision set the value at Rs 1,675 per sq.ft, which was an increase of +49% from 2012. The most recent revisions show a guideline value of Rs 2,500 per sq.ft in 2023, followed by an increase to Rs 2,700 per sq.ft in 2024, representing an increase of +8%.

Overall, from 2002 to 2024, the guideline value has increased by +1546%. It is important to note that the register has no figure for this street for the years not mentioned.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the guideline value of Ramani Nagar below this median.

• Ramdoss Nagar: Rs 2,700 per sq.ft (2024)
• Ramakrishana Nagar: Rs 2,700 per sq.ft (2024)
• Ramaiya Colony: Rs 2,200 per sq.ft (2024)
• Ramadhas Nagar: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 2nd Street: 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramani Nagar?

The Sub Registrar Office that covers Ramani Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property in Kolathur. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duty are calculated accurately based on this value.

When buying or selling property, the guideline value helps in establishing a fair transaction price. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ramani Nagar?

The current guideline value of Ramani Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 164 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +1546%.

What is the land classification for Ramani Nagar?

Ramani Nagar is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for Ramani Nagar located?

The Sembiam Sub Registrar Office, which covers Ramani Nagar, is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Ramani Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.