Guideline Value for RAMACHANDRA ROAD

Ramachandra Road guideline value

The current guideline value of Ramachandra Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ramachandra Road has changed

The guideline value for Ramachandra Road has seen significant changes over the years. In 2002, the guideline value was Rs 1,377 per sq.ft, which increased to Rs 1,530 per sq.ft in 2003, marking an 11% rise. The value then rose slightly to Rs 1,540 per sq.ft in 2007, a change of 1%. Following this, in 2012, the value jumped dramatically to Rs 13,000 per sq.ft, reflecting a 744% increase from the previous figure.

As of the 2024 revision, the guideline value stands at Rs 14,300 per sq.ft, indicating a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by 938%. It is important to note that there are no figures available for the years 2017 and 2023 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Ramachandra Road's 2024 figure above that median.

• Rakkippa Street: Rs 9,300 per sq.ft (2024)
• Rakkiappa 2nd Lane: Rs 8,200 per sq.ft (2024)
• Rakkiappa 1st Lane: Rs 8,200 per sq.ft (2024)
• Ramakrishna Main Road: Rs 11,500 per sq.ft (2024)
• RAMAKRISHNA MUTT ROAD (Luz Church Road to Venkatesa Agraharam): Rs 15,400 per sq.ft (2024)
• RAMAKRISHNA MUTT ROAD (Venkatesa Iyar Road to Greenways Road): Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Road

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total charges to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramachandra Road?

The Sub Registrar Office that covers Ramachandra Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a fair value as per the government standards.

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

Frequently asked questions

What is the current guideline value of Ramachandra Road?

The current guideline value of Ramachandra Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,377 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, showing an overall increase of 938% over this period.

What is the land classification for Ramachandra Road?

Ramachandra Road is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Ramachandra Road?

The Sub Registrar Office for Ramachandra Road is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,43,00,000, the stamp duty at 7% would be Rs 10,01,000 and the registration fee at 2% would be Rs 2,86,000.