Guideline Value for Ramanujam Street

Ramanujam Street guideline value

The current guideline value of Ramanujam Street in Hastinapuram village is Rs 2,970 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Ramanujam Street has changed

The guideline value of Ramanujam Street has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in the 2012 revision. However, this value decreased by 33% to Rs 1,809 per sq.ft in the 2017 revision. The 2023 revision then raised the value to Rs 2,700 per sq.ft, and the most recent 2024 revision increased it further by 10% to Rs 2,970 per sq.ft.

It is important to note that there are no figures available for Ramanujam Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 643%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values in 2024 ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the guideline value for Ramanujam Street.

• Raman Street: Rs 2,970 per sq.ft (2024)
• Ramaswamy Street (Dikshither Nagar): Rs 1,650 per sq.ft (2024)
• Raman 1st Street: Rs 2,970 per sq.ft (2024)
• Rambakthi Nagar: Rs 2,970 per sq.ft (2024)
• Ramamurthy Street: Rs 2,970 per sq.ft (2024)
• Ramalakshmi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees together to Rs 2,67,300. It is important to note that 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 details.

Which Sub Registrar Office covers Ramanujam Street?

The Sub Registrar Office that covers Ramanujam Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price meets or exceeds the guideline value to avoid any discrepancies during registration. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramanujam Street?

The current guideline value of Ramanujam Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 643% over the years.

What is the land classification for Ramanujam Street?

Ramanujam Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ramanujam Street?

The Sub Registrar Office for Ramanujam Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ramanujam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 2,67,300.