Guideline Value for Rambabu Thottam

Rambabu Thottam guideline value

The current guideline value of Rambabu Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under the village of Sholinganallur - 1 and is classified as Residential Class IV Type - I, governed by the Neelankarai SRO.

How the guideline value of Rambabu Thottam has changed

The guideline value of Rambabu Thottam has seen significant changes over the years. In the 2017 revision, the value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision shows a further increase to Rs 1,700 per sq.ft, reflecting a 13% change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 69%. This demonstrates a steady rise in the guideline value over the years, particularly in the recent revisions.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value range from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Rambabu Thottam's 2024 figure is below this median.

• Ramdev Thottam: Rs 1,700 per sq.ft (2024)
• Ramya Nagar Layout: Rs 1,700 per sq.ft (2024)
• Ranganathan Avenue: Rs 5,500 per sq.ft (2024)
• Ramachandra Thottam: Rs 1,700 per sq.ft (2024)
• RAJIV GANDHI SALAI 1st CROSS STREET: Rs 5,500 per sq.ft (2024)
• Ravi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rambabu Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rambabu Thottam?

The Rambabu Thottam area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role during property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider this value to ensure compliance with legal requirements and accurate financial planning.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the authorities receive the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rambabu Thottam?

The current guideline value of Rambabu Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, representing a total increase of 69% over this period.

What is the stamp duty rate for properties in Rambabu Thottam?

The stamp duty rate for properties in Rambabu Thottam is 7%, which is calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Rambabu Thottam?

The Neelankarai Sub Registrar Office handles registrations for Rambabu Thottam, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is higher than the current guideline value of Rambabu Thottam.