Guideline Value for C.V. Raman Street

C.V. Raman Street guideline value

The current guideline value of C.V. Raman Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of C.V. Raman Street has changed

The guideline value of C.V. Raman Street has undergone several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which increased to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase. The register has no figure for this street for the years 2023, 2017, 2007, 2003, and 2002.

To summarize, the 2012 revision set the value at Rs 4,000 per sq.ft, which was the last recorded figure before the 2024 revision. The current guideline value reflects the latest adjustments made by the authorities.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing C.V. Raman Street's current guideline value above this median.

• C.V. Raman 2nd Street: Rs 4,400 per sq.ft (2024)
• C.V. Raman 1st Street: Rs 4,400 per sq.ft (2024)
• Church Street: Rs 4,400 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 4,400 per sq.ft (2024)
• Chowdry Nagar 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar Main Road 3rd Cross: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in C.V. Raman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty charged at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations based on your specific property.

Which Sub Registrar Office covers C.V. Raman Street?

The C.V. Raman Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

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

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as per the local government's assessment. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of C.V. Raman Street?

The current guideline value of C.V. Raman Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. The register has no figure for the years 2023, 2017, 2007, 2003, and 2002.

What are the guideline values of other streets in Valasaravakkam?

Other streets in Valasaravakkam have guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median of Rs 3,850 per sq.ft. C.V. Raman Street's guideline value is above this median.

What fees are associated with property registration on C.V. Raman Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 3,96,000.

Where is the Sub Registrar Office for C.V. Raman Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles all registration activities for properties in the area.