Guideline Value for Ramanujar Garden

Ramanujar Garden guideline value

The current guideline value of Ramanujar Garden, located in Nanmangalam village under the Pallavaram SRO, is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Ramanujar Garden has changed

The guideline value for Ramanujar Garden has seen several revisions over the years. In 2002, the value was Rs 55 per sq.ft, which increased to Rs 77 per sq.ft in 2003. Following this, there was a significant rise to Rs 300 per sq.ft in 2007. The value then jumped to Rs 1,800 per sq.ft in 2012, but saw a decrease to Rs 1,206 per sq.ft in 2017. The value increased again to Rs 1,800 per sq.ft in 2023, and finally rose to Rs 2,310 per sq.ft in 2024, representing an increase of 28% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 4,100%. The revisions for the years 2012 and 2017 do not have a figure available for this street in the register.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO, with guideline values in 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Ramanujar Garden's 2024 figure below that median.

• Ramakrishnan Nagar: Rs 3,300 per sq.ft (2024)
• Rane Nagar: Rs 1,960 per sq.ft (2024)
• Rajiv Nagar 1 To 3 Street: Rs 3,300 per sq.ft (2024)
• Rani Nagar: Rs 1,960 per sq.ft (2024)
• Rajiv Gandhi 1 To 7 Streets: Rs 3,300 per sq.ft (2024)
• Rajeev Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujar Garden

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramanujar Garden?

The Sub Registrar Office covering Ramanujar Garden 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 Nanmangalam

The guideline value is a crucial factor when registering property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the sale and purchase process.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate taxes are collected during the transaction.

Frequently asked questions

What is the current guideline value of Ramanujar Garden?

The current guideline value of Ramanujar Garden is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 55 per sq.ft in 2002 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 4,100% over this period.

What is the land classification of Ramanujar Garden?

Ramanujar Garden is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Ramanujar Garden?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,07,900, based on the current guideline value of Rs 23,10,000.

Which office handles property registrations for Ramanujar Garden?

The Pallavaram Sub Registrar Office handles property registrations for Ramanujar Garden, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.