Guideline Value for Ramanujam Street

Ramanujam Street guideline value

The current guideline value of Ramanujam Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramanujam Street has changed

The guideline value for Ramanujam Street has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 800 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 536 per sq.ft. Subsequently, the value rose significantly to Rs 800 per sq.ft in the 2023 revision and further increased to Rs 880 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, the increase was 49%. The overall change from the 2007 revision to the 2024 revision is an increase of 47%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Ramanujam Street is below this median.

• Ramani Nagar Extn PART-II: Rs 2,530 per sq.ft (2024)
• Ramani Nagar Extn: Rs 2,530 per sq.ft (2024)
• Ramani Nagar: Rs 3,300 per sq.ft (2024)
• Rathinakumar Avenue: Rs 1,320 per sq.ft (2024)
• Rajesh Nager: Rs 1,100 per sq.ft (2024)
• Roja Thottam 1st Street: 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramanujam Street?

The Sub Registrar Office that covers Ramanujam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Irumpuliyur. It serves as a benchmark for assessing the value of the property during registration, ensuring that the property is valued fairly according to the government standards.

When buying or selling property, the guideline value helps determine the stamp duty and registration fees applicable. This ensures that all transactions are compliant with the legal requirements set by the government.

Frequently asked questions

What is the current guideline value of Ramanujam Street?

The current guideline value of Ramanujam Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with various increases and decreases in between, including a notable rise of 49% from 2017 to 2023.

What is the land classification for Ramanujam Street?

Ramanujam Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

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

The Sub Registrar Office for Ramanujam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

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, on a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.