Reportedly settled for house name on mad ruin being renovated (9)

I believe the answer is:

dunroamin

'reportedly settled for house name' is the definition.
I know nothing about this answer so I can't tell whether this works.

'on mad ruin being renovated' is the wordplay.
'being renovated' is an anagram indicator.
'on'+'mad'+'ruin'='onmadruin'
'onmadruin' anagrammed gives 'DUNROAMIN'.

I've seen this clue in The Guardian.

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