Guideline Value for Ramanujam Nagar

Ramanujam Nagar guideline value

The current guideline value of Ramanujam Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Ramanujam Nagar has changed

In the 2012 revision, the guideline value for Ramanujam Nagar was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, where it was still Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 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. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the 2024 figure for Ramanujam Nagar is below this median.

• Raman Nagar, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Raman Nagar: Rs 2,200 per sq.ft (2024)
• Ramani Nagar (Ward No.25): Rs 1,300 per sq.ft (2024)
• Ramani Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Ramani Nagar: Rs 2,500 per sq.ft (2024)
• Ramana Nagar / Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 Ramanujam Nagar?

The Sub Registrar Office covering Ramanujam Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that all transactions are documented accurately and transparently.

Frequently asked questions

What is the current guideline value of Ramanujam Nagar?

The current guideline value of Ramanujam Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What is the land classification for Ramanujam Nagar?

Ramanujam Nagar is classified as Residential Class III Type - I under the Madhavaram SRO.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Ramanujam Nagar located?

The Sub Registrar Office for Ramanujam Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.