Guideline Value for RAMACHANDRA COLONY 1ST LEFT CROSS STREET

Ramachandra Colony 1st Left Cross Street guideline value

The current guideline value of Ramachandra Colony 1st Left Cross Street is Rs 3,300 per sq.ft. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ramachandra Colony 1st Left Cross Street has changed

Over the years, the guideline value of Ramachandra Colony 1st Left Cross Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,300 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, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, making the current value of Rs 3,300 per sq.ft for Ramachandra Colony 1st Left Cross Street above the median.

• Ramachandra Colony: Rs 3,300 per sq.ft (2024)
• Ramachandra Colony 2nd Left Cross Street: Rs 3,300 per sq.ft (2024)
• Ramachandra Colony 3rd Left Cross Street: Rs 3,300 per sq.ft (2024)
• Ramachandra Colony Salai: Rs 3,300 per sq.ft (2024)
• Ramachandra Mission Road: Rs 3,300 per sq.ft (2024)
• Ramapuram Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Colony 1st Left Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramachandra Colony 1st Left Cross Street?

The Sub Registrar Office that covers Ramachandra Colony 1st Left Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

You can find your SRO for more details.

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

The guideline value is a crucial aspect when it comes to property transactions in Manapakkam. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to accurately assess the costs involved in property transactions.

When a property is sold or purchased, the guideline value helps determine the minimum value on which stamp duty is calculated. This ensures that all transactions are recorded at a fair value, reflecting the current market conditions as set by the local authorities.

Frequently asked questions

What is the current guideline value of Ramachandra Colony 1st Left Cross Street?

The current guideline value of Ramachandra Colony 1st Left Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for this street?

The land classification for Ramachandra Colony 1st Left Cross Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ramachandra Colony 1st Left Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that properties are recorded at a fair value, reflecting the current market conditions as set by local authorities.