Guideline Value for Advocate Colony Ramanaidu Cross Street

Advocate Colony Ramanaidu Cross Street guideline value

The current guideline value of Advocate Colony Ramanaidu Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Advocate Colony Ramanaidu Cross Street has changed

The guideline value for Advocate Colony Ramanaidu Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later revised to Rs 1,005 per sq.ft in 2017. This represented a decrease of 33%. However, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Advocate Colony Ramanaidu Cross Street.

• Advocate Janakiraman Street: Rs 1,650 per sq.ft (2024)
• Agananuru Street: Rs 1,650 per sq.ft (2024)
• Adiyaman Street: Rs 1,650 per sq.ft (2024)
• Agaththiyar Street: Rs 1,650 per sq.ft (2024)
• Abraham Lincoln Street: Rs 3,850 per sq.ft (2024)
• Abraham Lincoln 3rd cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Advocate Colony Ramanaidu Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, these fees would total Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Advocate Colony Ramanaidu Cross Street?

The Advocate Colony Ramanaidu Cross Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a significant role in property transactions in Chitlapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue based on the established values for properties in the area.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Advocate Colony Ramanaidu Cross Street?

The current guideline value of Advocate Colony Ramanaidu Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10%. Notably, there was a significant increase of 49% from 2017 to 2023.

What are the other streets with the same guideline value in Chitlapakkam?

Other streets in Chitlapakkam with the same guideline value of Rs 1,650 per sq.ft include Advocate Janakiraman Street, Agananuru Street, Adiyaman Street, and Agaththiyar Street.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Advocate Colony Ramanaidu Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.