Guideline Value for RAMACHANDRA MISSION ROAD

Ramachandra Mission Road guideline value

The current guideline value of Ramachandra Mission Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Manapakkam village and is classified under Residential Class I Type - I within the Chennai South Joint I SRO.

How the guideline value of Ramachandra Mission Road has changed

The guideline value for Ramachandra Mission Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 3,300 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the subsequent increase from 2017 to 2023 was significant at 49%. The change from 2023 to 2024 reflects a 10% increase. 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 with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing Ramachandra Mission Road's 2024 figure above that median.

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

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. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramachandra Mission Road?

Ramachandra Mission Road falls under 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 when registering property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramachandra Mission Road?

The current guideline value of Ramachandra Mission Road 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Ramachandra Mission Road?

Ramachandra Mission Road is classified as Residential Class I Type - I.

What are the stamp duty rates applicable for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ramachandra Mission Road located?

The Sub Registrar Office covering Ramachandra Mission Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.