Guideline Value for P.N. Ramamurthy Street

P.N. Ramamurthy Street guideline value

The current guideline value of P.N. Ramamurthy Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of P.N. Ramamurthy Street has changed

The guideline value for P.N. Ramamurthy Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the current guideline value of P.N. Ramamurthy Street.

• Play ground Street: Rs 3,850 per sq.ft (2024)
• P. Krishnan Street: Rs 4,400 per sq.ft (2024)
• Poolakshi Street: Rs 4,400 per sq.ft (2024)
• Prakasam Street: Rs 4,400 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• Periyar Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in P.N. Ramamurthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers P.N. Ramamurthy Street?

The Sub Registrar Office covering P.N. Ramamurthy Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Valasaravakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for the transaction. If the sale price exceeds the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of P.N. Ramamurthy Street?

The current guideline value of P.N. Ramamurthy Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, marking a 10% increase overall. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the stamp duty on property in P.N. Ramamurthy Street?

The stamp duty for property in P.N. Ramamurthy Street is 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500.

Which office handles registrations for P.N. Ramamurthy Street?

The Virugambakkam Sub Registrar Office handles registrations for P.N. Ramamurthy Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, which is the same as the current guideline value for P.N. Ramamurthy Street.