Guideline Value for Nethaji Street (Ramapuram)

Nethaji Street (Ramapuram) guideline value

The current guideline value of Nethaji Street (Ramapuram) is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nethaji Street (Ramapuram) has changed

The guideline value for Nethaji Street (Ramapuram) has undergone several revisions over the years. The earliest recorded revision available is from 2012, where the value was Rs 3,300 per sq.ft. This was followed by a decrease to Rs 2,211 per sq.ft in 2017. The value then increased significantly to Rs 3,300 per sq.ft in 2023, and most recently, it has risen to Rs 3,600 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Notably, there are no recorded figures for Nethaji Street (Ramapuram) in the years 2002, 2003, and 2007. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 9%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value is Rs 3,600 per sq.ft, which is equal to the current value of Nethaji Street (Ramapuram).

• Nethaji Street (Venkatapuram): Rs 4,000 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 4rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Street (Ramapuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total to Rs 3,24,000. 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 detailed calculations.

Which Sub Registrar Office covers Nethaji Street (Ramapuram)?

Nethaji Street (Ramapuram) falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ambattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is documented accurately and fairly.

When a property is sold, the guideline value is used to determine the applicable duties, which are calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nethaji Street (Ramapuram)?

The current guideline value of Nethaji Street (Ramapuram) is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2023 to Rs 3,600 per sq.ft in 2024, marking a 9% increase. It was Rs 2,211 per sq.ft in 2017 and Rs 3,300 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Nethaji Street (Ramapuram)?

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Nethaji Street (Ramapuram)?

The Ambattur Sub Registrar Office handles the registration for Nethaji Street (Ramapuram). It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

What is the land classification of Nethaji Street (Ramapuram)?

Nethaji Street (Ramapuram) is classified as Residential Class I Type - I, indicating its suitability for residential development.