Guideline Value for Dr.RAMADOSS STREET

Dr.RAMADOSS STREET guideline value

The current guideline value of Dr.RAMADOSS STREET in Vengathur village is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Residential Class II Type - I.

How the guideline value of Dr.RAMADOSS STREET has changed

The guideline value for Dr.RAMADOSS STREET has seen several revisions over the years. The earliest recorded value was Rs 100 per sq.ft in 2007. This increased significantly to Rs 700 per sq.ft in 2012, marking a substantial rise of 600%. However, it then dropped to Rs 469 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, bringing it back to Rs 700 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 600%, reflecting significant changes over the years.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, making the guideline value for Dr.RAMADOSS STREET below that median.

• Dr.RADHAKRISHNAN STREET: Rs 1,300 per sq.ft (2024)
• Durai Kannu Street: Rs 1,300 per sq.ft (2024)
• Dr.KARUNANITHI STREET: Rs 1,300 per sq.ft (2024)
• Dr.KARUNANITHI CROSS STREET: Rs 1,000 per sq.ft (2024)
• E.A.P.Sivaji Street: Rs 1,300 per sq.ft (2024)
• Dr.ABDULKALAM STREET: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.RAMADOSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr.RAMADOSS STREET?

The Sub Registrar Office that covers Dr.RAMADOSS STREET is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Vengathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When selling property, the guideline value is also significant as it helps in establishing a baseline for negotiations between buyers and sellers. Understanding the guideline value can assist both parties in making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Dr.RAMADOSS STREET?

The current guideline value of Dr.RAMADOSS STREET is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of Dr.RAMADOSS STREET?

Dr.RAMADOSS STREET is classified as Residential Class II Type - I.

Where can I find the registration office for Dr.RAMADOSS STREET?

The registration office for Dr.RAMADOSS STREET is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for property in Dr.RAMADOSS 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 at Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, leading to a stamp duty of Rs 49,000.