Guideline Value for C.P. RAMASAMY STREET EXTENSION EAST & WEST

C.P. Ramasamy Street Extension East & West guideline value

The current guideline value for C.P. Ramasamy Street Extension East & West is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of C.P. Ramasamy Street Extension East & West has changed

The guideline value for C.P. Ramasamy Street Extension East & West has undergone several revisions over the years. The earliest available revision is from 2012, which set the value at Rs 13,000 per sq.ft. This was followed by a decrease to Rs 8,710 per sq.ft in 2017. The value then increased to Rs 13,000 per sq.ft in 2023, and currently stands at Rs 14,300 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are a total of 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. C.P. Ramasamy Street Extension East & West's 2024 guideline value is above this median.

• C.P. Ramasamy Street: Rs 14,300 per sq.ft (2024)
• C.P Ramasamy Salai: Rs 25,800 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 Street Extension East & West

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total cost to Rs 12,87,000. It is important to note that 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 C.P. Ramasamy Street Extension East & West?

The Sub Registrar Office that covers C.P. Ramasamy Street Extension East & West 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value for C.P. Ramasamy Street Extension East & West?

The current guideline value for C.P. Ramasamy Street Extension East & West is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13,000 per sq.ft in 2012 to Rs 8,710 per sq.ft in 2017, then increased to Rs 13,000 per sq.ft in 2023, and currently stands at Rs 14,300 per sq.ft in 2024.

What is the land classification for C.P. Ramasamy Street Extension East & West?

C.P. Ramasamy Street Extension East & West falls under the Residential Class I Type - III land classification.

Where is the Mylapore Sub Registrar Office located?

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

How is stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, the stamp duty for a property with a guideline value of Rs 1,43,00,000 would be calculated at 7% of that amount.