Guideline Value for JUSTIC RAMANUJAM STREET

Justic Ramanujam Street guideline value

The current guideline value of Justic Ramanujam Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Justic Ramanujam Street has changed

The guideline value for Justic Ramanujam Street has seen several revisions over the years. The 2012 revision set the value at Rs 9,000 per sq.ft, which was followed by a decrease to Rs 6,030 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 9,000 per sq.ft, and in the latest 2024 revision, it rose to Rs 9,900 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, which is equal to the current guideline value of Justic Ramanujam Street.

• Justic Avenue: Rs 11,000 per sq.ft (2024)
• Journalist Colony: Rs 9,900 per sq.ft (2024)
• Kalaignar Karunanidhi Street: Rs 7,150 per sq.ft (2024)
• Kalakshetra Avenue: Rs 11,000 per sq.ft (2024)
• Jeevanantham Street: Rs 7,150 per sq.ft (2024)
• Kalasethra Colony: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Justic Ramanujam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value is Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost to Rs 8,91,000. Please 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 Justic Ramanujam Street?

The Sub Registrar Office that covers Justic Ramanujam Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It determines the amount of 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.

Understanding the guideline value is essential for both buyers and sellers, as it helps in assessing the financial implications of property transactions. It also ensures transparency in the registration process, making it easier for all parties involved to comply with legal requirements.

Frequently asked questions

What is the current guideline value of Justic Ramanujam Street?

The current guideline value of Justic Ramanujam Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then increased to Rs 9,000 per sq.ft in 2023, and finally reached Rs 9,900 per sq.ft in 2024.

What is the land classification for Justic Ramanujam Street?

The land classification for Justic Ramanujam Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Justic Ramanujam Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Thiruvanmiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 99,00,000 would incur a stamp duty of Rs 6,93,000 at 7%.