Guideline Value for Periyar Street (Ramapuram)

Periyar Street (Ramapuram) guideline value

The current guideline value of Periyar 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 Periyar Street (Ramapuram) has changed

The guideline value for Periyar Street (Ramapuram) has seen several revisions over the years. The 2012 revision set the value at Rs 3,300 per sq.ft, which then dropped to Rs 2,211 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,300 per sq.ft, and the latest 2024 revision raised it to Rs 3,600 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO, with guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, which matches the current value for Periyar Street (Ramapuram).

• Pillaiyar Kovil Street: Rs 3,600 per sq.ft (2024)
• Pattravakkam Road: Rs 4,000 per sq.ft (2024)
• Pattammal Street: Rs 4,600 per sq.ft (2024)
• Piragathi Nagar: Rs 2,800 per sq.ft (2024)
• Ponnambalam Street: Rs 3,600 per sq.ft (2024)
• Parthasarathy Street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar 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, while the registration fee at 2% would be Rs 72,000, bringing the total to Rs 3,24,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periyar Street (Ramapuram)?

The Sub Registrar Office that covers Periyar Street (Ramapuram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ambattur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges reflect the official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

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

The current guideline value of Periyar 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 2012 to Rs 2,211 per sq.ft in 2017, then back to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,600 per sq.ft in 2024.

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

Periyar Street (Ramapuram) is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Periyar Street (Ramapuram)?

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

How is stamp duty calculated for properties in Ambattur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 36,00,000, the stamp duty at 7% would be Rs 2,52,000.