Guideline Value for Ramani Street

Ramani Street guideline value

The current guideline value of Ramani Street in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Ramani Street has changed

The guideline value for Ramani Street has undergone several revisions over the years. In 2002, the value was Rs 345 per sq.ft, which increased to Rs 374 per sq.ft in 2003, marking an 8% rise. The value then saw a significant increase to Rs 700 per sq.ft in 2007, representing an 87% change. After that, in 2012, the value adjusted to Rs 3,500 per sq.ft, showing a 400% increase from the previous revision. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017, indicating a 33% drop. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,800 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value for Ramani Street has increased by 1001%. The register has no figure for this street for the years not listed in the revisions.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO, with guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which is equal to the current guideline value of Ramani Street.

• Raman Street: Rs 6,000 per sq.ft (2024)
• Ramamanthiram Street: Rs 5,500 per sq.ft (2024)
• Ramakrishna Nagar (R.K.Nagar): Rs 3,800 per sq.ft (2024)
• Rangadass Reddy Colony & Streets: Rs 3,800 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 3,800 per sq.ft (2024)
• Redhills Road (Adjoinging Main Bazaar Street(Door No.1 to 57 and 134 to 167): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total cost together to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramani Street?

The Sub Registrar Office that covers Ramani Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To locate your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the financial implications involved in the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ramani Street?

The current guideline value of Ramani Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ramani Street has changed from Rs 345 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 1001% over the years.

What is the land classification of Ramani Street?

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

What are the stamp duty and registration fees for property in Ramani Street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000, and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.