Guideline Value for C.P. RAMASAMY STREET

C.P. Ramasamy Street guideline value

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

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

The guideline value for C.P. Ramasamy Street has seen significant changes over the years. In 2002, the value was Rs 2,179 per sq.ft, which increased to Rs 2,420 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose dramatically to Rs 3,565 per sq.ft, reflecting a 47% increase. The 2012 revision saw the value holding steady at Rs 13,000 per sq.ft, followed by a decrease of 33% to Rs 8,710 per sq.ft in 2017. The guideline value then increased to Rs 13,000 per sq.ft in 2023, and most recently, it has risen to Rs 14,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 556%. The revisions for the years 2012 and 2017 do not have figures for this street listed in the register.

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 in this area is Rs 8,800 per sq.ft, positioning C.P. Ramasamy Street above this median with its current value of Rs 14,300 per sq.ft.

• C.P Ramasamy Salai: Rs 25,800 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty, charged at 7%, would amount to Rs 10,01,000, while the registration fee at 2% would be Rs 2,86,000. Together, the total cost for stamp duty and registration fee would be Rs 12,87,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers C.P. Ramasamy Street?

The Sub Registrar Office covering C.P. Ramasamy Street 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 plays a crucial role during the registration of property transactions in Mylapore. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs in the transaction process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

It is essential to be aware that the guideline value may vary from one street to another within Mylapore. Therefore, it is advisable to check the specific guideline value for the property in question to accurately calculate the associated fees and costs involved in the transaction.

Frequently asked questions

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

The current guideline value of C.P. Ramasamy Street 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 significantly, from Rs 2,179 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 556% over the years.

What is the registration office for C.P. Ramasamy Street?

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

How is stamp duty calculated for properties on C.P. Ramasamy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 10,01,000 at the current guideline value.

What are the other streets in Mylapore with guideline values?

Other streets in Mylapore include C.P Ramasamy Salai with a guideline value of Rs 25,800 per sq.ft, and Custian Beach Road at Rs 8,800 per sq.ft, among others. Each street has its own specific guideline value that can be checked for accurate information.