Guideline Value for Ramzan Street / Senthil Nagar

Ramzan Street / Senthil Nagar guideline value

The current guideline value of Ramzan Street / Senthil Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ramzan Street / Senthil Nagar has changed

The guideline value for Ramzan Street / Senthil Nagar has seen significant changes over the years. In 2002, the value was Rs 109 per sq.ft, which increased to Rs 124 per sq.ft in 2003, marking a 14% rise. The value continued to rise to Rs 360 per sq.ft in 2007, showing a substantial increase of 190%. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a remarkable growth of 235% from the previous revision. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a 49% increase from 2017.

With the latest revision in 2024, the guideline value is now Rs 1,980 per sq.ft, indicating a 10% increase from the previous year. It is important to note that the register has no figure for this street in 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Ramzan Street / Senthil Nagar's 2024 figure below this median.

• Ramzan Street / Samundeswari Nagar: Rs 1,980 per sq.ft (2024)
• Ranganathapuram: Rs 1,870 per sq.ft (2024)
• Rangan Street: Rs 1,760 per sq.ft (2024)
• Ranganthan Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Ramanuja Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Rangaswamy Street / Thirunagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ramzan Street / Senthil Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ramzan Street / Senthil Nagar?

The Sub Registrar Office that covers Ramzan Street / Senthil Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property transaction occurs, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency and helps in preventing undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Ramzan Street / Senthil Nagar?

The current guideline value of Ramzan Street / Senthil Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 109 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1717% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal under the Pammal SRO is Rs 2,090 per sq.ft as of 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles the registration for Ramzan Street / Senthil Nagar?

The Pammal Sub Registrar Office handles the registration for Ramzan Street / Senthil Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.