Guideline Value for Ramanuja Nagar

Ramanuja Nagar guideline value

The current guideline value of Ramanuja Nagar is Rs 4,900 per sq.ft, effective from 1 July 2024. This area is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Ramanuja Nagar has changed

The guideline value for Ramanuja Nagar has seen several revisions over the years. Starting from Rs 710 per sq.ft in 2002, the value increased significantly to Rs 1,200 per sq.ft in 2007, marking a 69% rise. The value then jumped to Rs 4,500 per sq.ft in 2012, reflecting a substantial increase of 275%. However, it decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%, before rising again to Rs 4,500 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, a 9% increase from the previous year.

It is important to note that there is no guideline value figure for Ramanuja Nagar in the year 2003. Overall, from 2002 to 2024, the guideline value has increased by 590%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is the same as the current value for Ramanuja Nagar.

• Ramanatha Chetty Street: Rs 4,900 per sq.ft (2024)
• Raju Naicken Street: Rs 5,500 per sq.ft (2024)
• Rangaiah Naidu Street: Rs 4,900 per sq.ft (2024)
• Rangamannar Street: Rs 4,900 per sq.ft (2024)
• Rangasamy Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Reddy Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanuja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty is calculated at 7%, which comes to Rs 3,43,000, while the registration fee at 2% amounts to Rs 98,000. Together, the total cost for stamp duty and registration fee would be Rs 4,41,000. 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 detailed calculations.

Which Sub Registrar Office covers Ramanuja Nagar?

The Sub Registrar Office that covers Ramanuja Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Ayanavaram. It serves as a reference point for determining the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers should be aware that the guideline value can impact the overall cost of a property transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, and it is used to calculate the applicable taxes. Therefore, understanding the guideline value is essential for anyone looking to buy or sell property in Ayanavaram.

Frequently asked questions

What is the current guideline value of Ramanuja Nagar?

The current guideline value of Ramanuja Nagar is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 710 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, which is an overall increase of 590%.

What is the registration fee for property in Ramanuja Nagar?

The registration fee is charged at 2% of the guideline value. For a property valued at Rs 49,00,000, the registration fee would be Rs 98,000.

Where is the Sub Registrar Office for Ramanuja Nagar located?

The Sub Registrar Office for Ramanuja Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000.