Guideline Value for RAMALAKSHMI AMMAL GARDEN

Ramalakshmi Ammal Garden guideline value

The current guideline value of Ramalakshmi Ammal Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Karapakkam village under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Ramalakshmi Ammal Garden has changed

The guideline value for Ramalakshmi Ammal Garden has undergone several revisions over the years. The earliest recorded figure is from 2012, when the guideline value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, before increasing again to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft.

Between these revisions, there have been notable changes. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The most recent change from 2023 to 2024 shows a 10% increase. Overall, the guideline value from 2012 to 2024 has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, making the current value for Ramalakshmi Ammal Garden below this median.

• Ramasamy Street: Rs 1,100 per sq.ft (2024)
• Ranganathan Street: Rs 2,200 per sq.ft (2024)
• RANGASAMY 1st STREET: Rs 1,100 per sq.ft (2024)
• RANGASAMY 2nd CROSS STREET: Rs 1,100 per sq.ft (2024)
• RANGASAMY 2nd STREET: Rs 1,100 per sq.ft (2024)
• Rangasamy Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalakshmi Ammal Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Ramalakshmi Ammal Garden?

The Sub Registrar Office that covers Ramalakshmi Ammal Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karapakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the transaction is fairly assessed according to the current market standards set by the registration department.

Frequently asked questions

What is the current guideline value of Ramalakshmi Ammal Garden?

The current guideline value of Ramalakshmi Ammal Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Ramalakshmi Ammal Garden?

Ramalakshmi Ammal Garden is classified as Residential Class III Type - I.

What are the other streets in Karapakkam with their guideline values?

Other streets in Karapakkam include Ramasamy Street, Ranganathan Street, RANGASAMY 1st STREET, RANGASAMY 2nd CROSS STREET, RANGASAMY 2nd STREET, and Rangasamy Cross Street, with guideline values ranging from Rs 1,100 to Rs 2,200 per sq.ft.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.