Guideline Value for Ramar Thottam

Ramar Thottam guideline value

The current guideline value of Ramar Thottam is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village, under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Ramar Thottam has changed

The guideline value for Ramar Thottam has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,210 per sq.ft, an increase of 10% from the 2023 revision of Rs 1,100 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 737 per sq.ft, which represented a significant increase of 49% from the 2012 revision, which was at Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. Overall, comparing the years 2012 to 2024, there has been a 10% increase in the guideline value, reflecting the changes in the local real estate landscape.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, placing Ramar Thottam's 2024 figure below that median.

• Ramanujam Street: 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 Ramar Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total 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, bringing the total fees together to Rs 1,08,900. Please note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Ramar Thottam?

The Ramar Thottam area is covered by 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 plays a crucial role in the registration process of property transactions in Mudichur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value is updated periodically, reflecting changes in the local real estate market and ensuring that property transactions are conducted fairly.

Frequently asked questions

What is the current guideline value of Ramar Thottam?

The current guideline value of Ramar Thottam 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 2023 to Rs 1,210 per sq.ft in 2024, which is a 10% increase. It was Rs 737 per sq.ft in 2017 and Rs 1,100 per sq.ft in 2012, showing a 49% increase from 2017 to 2023.

What are the stamp duty and registration fees for properties in Ramar Thottam?

For a property valued at 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, totaling Rs 1,08,900. The duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations in Mudichur?

The Padappai Sub Registrar Office handles property registrations in Mudichur. It is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is essential in determining the stamp duty and registration fees during property transactions. It ensures that all transactions are recorded accurately and reflect the current market conditions.