Guideline Value for Ramanujam Street

Ramanujam Street guideline value

The current guideline value of Ramanujam Street in Mudichur village is Rs 1,210 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as 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 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,100 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

Mudichur village has 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. Ramanujam Street's 2024 figure is below this median.

• Ramar Thottam: Rs 1,210 per sq.ft (2024)
• Ram Nagar: Rs 1,210 per sq.ft (2024)
• Ranga Nagar: Rs 2,200 per sq.ft (2024)
• Rajarajan Street: Rs 3,630 per sq.ft (2024)
• Sakthi Nagar: Rs 1,760 per sq.ft (2024)
• Prabha Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,210 per sq.ft, the guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, making the total cost Rs 1,08,900. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is assessed to ensure that the transaction is in line with the official rates set by the government. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ramanujam Street?

The current guideline value of Ramanujam Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification of Ramanujam Street?

Ramanujam Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Ramanujam Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 at a rate of 7%.