Guideline Value for RAMACHANDRA COLONY SALAI

Ramachandra Colony Salai guideline value

The current guideline value of Ramachandra Colony Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. 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 Salai has changed

The guideline value for Ramachandra Colony Salai has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median of Rs 2,530 per sq.ft. The guideline value for Ramachandra Colony Salai is above this median.

• Ramachandra Colony 3rd Left Cross Street: Rs 3,300 per sq.ft (2024)
• Ramachandra Mission Road: Rs 3,300 per sq.ft (2024)
• Ramachandra Colony 2nd Left Cross Street: Rs 3,300 per sq.ft (2024)
• Ramachandra Colony 1st Left Cross Street: Rs 3,300 per sq.ft (2024)
• Ramachandra Colony: 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 Salai

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramachandra Colony Salai?

The Sub Registrar Office that covers Ramachandra Colony Salai 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects the market conditions.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramachandra Colony Salai?

The current guideline value of Ramachandra Colony Salai 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 and Rs 3,000 per sq.ft in 2012, showing a significant increase from 2017 to 2023.

What is the land classification for Ramachandra Colony Salai?

Ramachandra Colony Salai is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ramachandra Colony Salai?

The Sub Registrar Office for Ramachandra Colony Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Ramachandra Colony Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a stamp duty of Rs 2,31,000.