Guideline Value for K.R. Ramasamy Street

K.R. Ramasamy Street guideline value

The current guideline value of K.R. Ramasamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - II.

How the guideline value of K.R. Ramasamy Street has changed

The guideline value for K.R. Ramasamy Street has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 saw a further increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from 2007 to 2024, there has been an increase of 313% in the guideline value.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing K.R. Ramasamy Street's 2024 figure below this median.

• Krishnan Street Block 62 (W.M): Rs 5,500 per sq.ft (2024)
• Kulakkarai Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Krishnan 2nd Street: Rs 2,700 per sq.ft (2024)
• Krishna Murthy Street: Rs 3,300 per sq.ft (2024)
• Kovalan Street (Pari Nagar): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in K.R. Ramasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers K.R. Ramasamy Street?

K.R. Ramasamy Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to be aware of the guideline value, as it directly affects the overall cost of the transaction. Buyers and sellers should ensure they are informed about the current guideline value to avoid any unexpected costs.

Frequently asked questions

What is the current guideline value of K.R. Ramasamy Street?

The current guideline value of K.R. Ramasamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 313% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office manages K.R. Ramasamy Street?

The Ashok Nagar Sub Registrar Office manages K.R. Ramasamy Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, with K.R. Ramasamy Street's current value being below this median.