Guideline Value for Periyar Ramasamy Street (W.M)

Periyar Ramasamy Street (W.M) guideline value

The current guideline value for Periyar Ramasamy Street (W.M) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Periyar Ramasamy Street (W.M) has changed

Over the years, the guideline value of Periyar Ramasamy Street (W.M) has seen significant changes. The earliest recorded revision was in 2007, with a guideline value of Rs 1,210 per sq.ft. This figure increased dramatically to Rs 5,000 per sq.ft in 2012, marking a 313% rise. However, from 2012 to 2017, the value dropped to Rs 3,350 per sq.ft, representing a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a substantial increase of 64% from 2017.

There are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 355%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 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 for these streets is Rs 4,900 per sq.ft, placing Periyar Ramasamy Street (W.M) above this median at Rs 5,500 per sq.ft.

• Periyar Ramasamy Street Block 87, 88, 91, 92: Rs 5,500 per sq.ft (2024)
• Periyar Street (MGR): Rs 3,300 per sq.ft (2024)
• Periyar Street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Periyar Nagar (NP): Rs 2,200 per sq.ft (2024)
• Perumal Koil Street Block 90: Rs 5,500 per sq.ft (2024)
• Periyar 5th Street (Dr. Kanu Nagar 5th Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Ramasamy Street (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Periyar Ramasamy Street (W.M)?

The Sub Registrar Office that covers Periyar Ramasamy Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

When buying or selling property in Kodambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. Buyers and sellers must refer to the current guideline value to understand the financial implications of their transactions.

It is essential to ensure that the sale price is either equal to or greater than the guideline value, as the duty is charged on the higher of the two. This ensures compliance with local regulations and helps in the accurate assessment of fees during the registration process.

Frequently asked questions

What is the current guideline value of Periyar Ramasamy Street (W.M)?

The current guideline value for Periyar Ramasamy Street (W.M) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 355% over the years.

What is the land classification for Periyar Ramasamy Street (W.M)?

Periyar Ramasamy Street (W.M) is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office covering Periyar Ramasamy Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property in this area?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000.