Guideline Value for Namakal Ramalingam Street

Namakal Ramalingam Street guideline value

The current guideline value of Namakal Ramalingam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Periyakuppam village under the Tiruvallur Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Namakal Ramalingam Street has changed

The guideline value for Namakal Ramalingam Street has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, by 2017, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The following revision in 2023 set the value at Rs 1,000 per sq.ft, which then increased to the current rate of Rs 1,100 per sq.ft in 2024, reflecting a 10% rise.

The register for the years 2002 and 2003 does not provide any figures for Namakal Ramalingam Street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft, with the median value being Rs 1,100 per sq.ft. Namakal Ramalingam Street's 2024 figure is equal to this median.

• Nakeeran Street: Rs 1,100 per sq.ft (2024)
• M.Varadharasanar Street: Rs 550 per sq.ft (2024)
• Mookalathaman Cross Street: Rs 550 per sq.ft (2024)
• New. N.G.G.O. Colony: Rs 1,100 per sq.ft (2024)
• N.G.G.O.Colony: Rs 1,100 per sq.ft (2024)
• Om Ganesh Nagar: Rs 879 per sq.ft (2024)

Stamp duty and registration fee for property in Namakal Ramalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Namakal Ramalingam Street?

The Sub Registrar Office that covers Namakal Ramalingam Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Periyakuppam. It serves as a benchmark for determining the minimum sale price and is used to calculate stamp duty and registration fees during the property registration process.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring appropriate tax collection by the state. Buyers and sellers should be aware of the current guideline value to make informed decisions.

Frequently asked questions

What is the current guideline value of Namakal Ramalingam Street?

The current guideline value of Namakal Ramalingam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly, from Rs 200 per sq.ft to Rs 1,100 per sq.ft in 2024, marking an overall increase of 450%.

What is the land classification of Namakal Ramalingam Street?

Namakal Ramalingam Street is classified as Residential Class I Type - III under the Tiruvallur Joint 1 SRO.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.

Which office handles property registrations for Namakal Ramalingam Street?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations for Namakal Ramalingam Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.