Guideline Value for Ramanujam Street (Meenakashi Nagar)

Ramanujam Street (Meenakashi Nagar) guideline value

The current guideline value of Ramanujam Street (Meenakashi Nagar) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ramanujam Street (Meenakashi Nagar) has changed

The guideline value for Ramanujam Street (Meenakashi Nagar) has undergone several revisions over the years. In 2002, the value was Rs 163 per sq.ft, which increased to Rs 185 per sq.ft in 2003, marking a change of +13%. The value then saw significant growth, reaching Rs 395 per sq.ft in 2007 (+114%), followed by a substantial rise to Rs 1,206 per sq.ft in 2017 (+205%). The 2023 revision set the value at Rs 1,800 per sq.ft, reflecting an increase of +49% from the previous revision.

The most recent revision in 2024 has brought the guideline value to Rs 1,980 per sq.ft, which represents a +10% increase from the 2023 figure. It is important to note that there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Ramanujam Street (Meenakashi Nagar) below this median.

• Ramanujam Street (Thandai Periyar Nagar): Rs 1,980 per sq.ft (2024)
• Ramanujam Street (Thiruvallur Nagar): Rs 2,475 per sq.ft (2024)
• Ramanuja Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Ramanathan Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Ramanathan Street/ Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Ramakrishna Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Street (Meenakashi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramanujam Street (Meenakashi Nagar)?

The Sub Registrar Office that covers Ramanujam Street (Meenakashi Nagar) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during property transactions in Pammal. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure they are paying the correct fees during the registration process.

When registering a property, the guideline value serves as a benchmark for calculating the applicable charges. It is crucial to understand that the fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramanujam Street (Meenakashi Nagar)?

The current guideline value of Ramanujam Street (Meenakashi Nagar) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 163 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of +1115% over the years.

What are the stamp duty and registration fees for property in Ramanujam Street (Meenakashi Nagar)?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Ramanujam Street (Meenakashi Nagar)?

The Pammal Sub Registrar Office covers Ramanujam Street (Meenakashi Nagar), located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure they pay the correct fees at registration.