Guideline Value for RAMACHANRA STREET

Ramachanra Street guideline value

The current guideline value of Ramachanra Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Ponneri_2 village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramachanra Street has changed

The guideline value register shows no figures for Ramachanra Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 500 per sq.ft, which was then increased to Rs 700 per sq.ft in the 2024 revision, marking a change of +40%.

As of the 2024 revision, the guideline value of Rs 700 per sq.ft is equal to the median value of Rs 700 per sq.ft for the 75 streets in Ponneri_2 under the Ponneri SRO, which range from Rs 700 to Rs 1,300 per sq.ft.

Guideline values in Ponneri_2

In Ponneri_2 village, the guideline values for various streets range from Rs 700 to Rs 1,300 per sq.ft, with Ramachanra Street's 2024 figure sitting at the median of Rs 700 per sq.ft. Below are the guideline values for other streets in Ponneri_2:

• Raji Appartment: Rs 702 per sq.ft (2024)
• Ramaswami Chetty Street: Rs 700 per sq.ft (2024)
• Rajam Nagar: Rs 1,300 per sq.ft (2024)
• Railway Station Road: Rs 1,200 per sq.ft (2024)
• Puliyan Thoppu: Rs 700 per sq.ft (2024)
• Pudhiya Theradi St: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachanra Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total charges to Rs 63,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on calculating these fees.

Which Sub Registrar Office covers Ramachanra Street?

The Sub Registrar Office that covers Ramachanra Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Ponneri_2, the guideline value is used to calculate various fees, including stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property transactions. This value helps in determining the financial obligations that come with buying or selling a property in the area.

Frequently asked questions

What is the current guideline value of Ramachanra Street?

The current guideline value of Ramachanra Street is Rs 700 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value changed from Rs 500 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, representing an increase of +40%.

What is the land classification of Ramachanra Street?

Ramachanra Street is classified as Residential Class II Type - I.

Which office handles property registration for Ramachanra Street?

The Ponneri Sub Registrar Office handles property registration for Ramachanra Street, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees during property transactions. It ensures compliance with legal requirements when buying or selling property in the area.