Guideline Value for C.P RAMASAMY SALAI

C.P Ramasamy Salai guideline value

The current guideline value of C.P Ramasamy Salai is Rs 25,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO, and is classified as Commercial Special Type - I.

How the guideline value of C.P Ramasamy Salai has changed

The guideline value of C.P Ramasamy Salai has seen significant changes over the years. In 2007, the value was Rs 10,984 per sq.ft, which increased to Rs 23,500 per sq.ft in 2012, marking a substantial rise of 114%. However, it then decreased by 33% to Rs 15,745 per sq.ft in 2017. Following this, the value surged by 49% to Rs 23,500 per sq.ft in 2023, and has now risen by 10% to the current rate of Rs 25,800 per sq.ft in 2024.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 135%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for the village is Rs 8,800 per sq.ft, placing C.P Ramasamy Salai above this median.

• C.P. Ramasamy Street: Rs 14,300 per sq.ft (2024)
• C.P. Ramasamy Street Extension East & West: Rs 14,300 per sq.ft (2024)
• Custian Beach Road: Rs 8,800 per sq.ft (2024)
• C.V. Raman Salai: Rs 14,300 per sq.ft (2024)
• Cit Colony Link Street: Rs 16,500 per sq.ft (2024)
• Cit Colony 6th Cross Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in C.P Ramasamy Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 25,800 per sq.ft, the total guideline value amounts to Rs 2,58,00,000. The stamp duty at 7% would be Rs 18,06,000, and the registration fee at 2% would be Rs 5,16,000, bringing the total cost for these fees to Rs 23,22,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers C.P Ramasamy Salai?

The Sub Registrar Office that covers C.P Ramasamy Salai is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue from the transaction. Buyers and sellers should be aware of the current guideline value to accurately estimate their costs during the buying or selling process.

Frequently asked questions

What is the current guideline value of C.P Ramasamy Salai?

The current guideline value of C.P Ramasamy Salai is Rs 25,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 10,984 per sq.ft in 2007 to Rs 25,800 per sq.ft in 2024, which is a total increase of 135%.

What are the other streets in Mylapore and their guideline values?

Other streets in Mylapore include C.P. Ramasamy Street at Rs 14,300 per sq.ft, Custian Beach Road at Rs 8,800 per sq.ft, and C.V. Raman Salai at Rs 14,300 per sq.ft, among others.

What fees are associated with buying property in C.P Ramasamy Salai?

When buying property, buyers should consider the stamp duty at 7% and the registration fee at 2% of the guideline value, which can add a significant amount to the total cost.

Where can I find the Sub Registrar Office for C.P Ramasamy Salai?

The Mylapore Sub Registrar Office, which covers C.P Ramasamy Salai, is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.