Guideline Value for K.R.Ramasamy Street

K.R.Ramasamy Street guideline value

The current guideline value of K.R.Ramasamy Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II 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. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following that, the value increased to Rs 4,000 per sq.ft in the 2023 revision, and finally, the current value is Rs 4,400 per sq.ft as of the 2024 revision. The changes from 2012 to 2017 represented a decrease of 33%, while the increase from 2017 to 2023 was 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the years 2002, 2003, and 2007 in the register for K.R.Ramasamy Street. The 2024 revision shows a 10% increase from the previous year, 2023, which had a guideline value of Rs 4,000 per sq.ft.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for the area is Rs 4,400 per sq.ft, which is the same as the current value for K.R.Ramasamy Street.

• K.R. Ramasamy Nagar: Rs 4,400 per sq.ft (2024)
• Kubera Nagar: Rs 4,400 per sq.ft (2024)
• Kubera Nagar Extn: Rs 4,400 per sq.ft (2024)
• Kubera Nagar North: Rs 4,400 per sq.ft (2024)
• Kubera Nagar North Extn: Rs 4,400 per sq.ft (2024)
• Krishnaraj Nagar Extn 3rd Street: 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and 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 and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers K.R.Ramasamy Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this street?

For a property measuring 1,000 sq.ft, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

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

The Velacheri Sub Registrar Office covers K.R.Ramasamy Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Where can I find more information about guideline values in Velachery?

More information can be found in the guideline value register maintained by the Registration Department, which provides details on various streets and their respective values.