Guideline Value for Bhagavan Ramanar Street

Bhagavan Ramanar Street guideline value

The current guideline value of Bhagavan Ramanar Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Bhagavan Ramanar Street has changed

The guideline value for Bhagavan Ramanar Street has seen several revisions over the years. In the 2012 revision, the guideline value was Rs 600 per sq.ft. This figure decreased to Rs 402 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase, with the value rising to Rs 600 per sq.ft in 2023, and then further increasing to Rs 880 per sq.ft in the 2024 revision, marking a 47% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 47%. It is important to note that there are no figures available for Bhagavan Ramanar Street for the revisions in 2002, 2003, and 2007.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for Bhagavan Ramanar Street is below this median.

• Bhagavathi Pondy Street: Rs 1,300 per sq.ft (2024)
• Berahcah Nagar: Rs 1,300 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 2nd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagavan Ramanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhagavan Ramanar Street?

The Sub Registrar Office that covers Bhagavan Ramanar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhagavan Ramanar Street?

The current guideline value of Bhagavan Ramanar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024. This represents a significant increase over the years.

What is the land classification for Bhagavan Ramanar Street?

The land classification for Bhagavan Ramanar Street is Residential Class IV Type - II, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bhagavan Ramanar Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in the area.