Guideline Value for Ramanjuar Nagar

Ramanjuar Nagar guideline value

The current guideline value of Ramanjuar Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Pennaloor village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ramanjuar Nagar has changed

Over the years, the guideline value for Ramanjuar Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision noted a decrease to Rs 335 per sq.ft, representing a -33% change from the previous 2012 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 500 per sq.ft. The latest revision in 2024 maintains this value, indicating no change from the previous year. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 500 per sq.ft.

Guideline values in Pennaloor

Pennaloor village has a total of 35 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 100 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Ramanjuar Nagar's 2024 figure above this median.

• Prasanthi Nagar - III: Rs 500 per sq.ft (2024)
• Prasanthi Nagar - II: Rs 500 per sq.ft (2024)
• Prasanthi Nagar - I: Rs 500 per sq.ft (2024)
• Power Grid Colony: Rs 200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 100 per sq.ft (2024)
• Sathyamurthy Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanjuar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, totaling Rs 35,000, and the registration fee is 2%, amounting to Rs 10,000. Together, the total cost for stamp duty and registration fee is Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramanjuar Nagar?

The Sub Registrar Office that covers Ramanjuar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Pennaloor, the guideline value is a critical factor in determining the stamp duty and registration fees. This value is used to calculate the costs associated with the transaction, ensuring that both parties are aware of the financial obligations involved.

It is essential for buyers and sellers to be informed about the guideline value, as it can impact the overall expenses during the property transaction process. Understanding this value helps in making informed decisions when engaging in real estate transactions.

Frequently asked questions

What is the current guideline value of Ramanjuar Nagar?

The current guideline value of Ramanjuar Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 500 per sq.ft in 2024, unchanged from the 2023 revision. The 2017 revision saw a decrease to Rs 335 per sq.ft, and prior to that, the 2012 revision was also Rs 500 per sq.ft.

What is the land classification for Ramanjuar Nagar?

Ramanjuar Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What is the median guideline value for streets in Pennaloor?

The median guideline value for the 35 streets in Pennaloor is Rs 200 per sq.ft, with Ramanjuar Nagar's value being above this median.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot at Rs 500 per sq.ft, the total costs would amount to Rs 45,000.