Guideline Value for RAMALINGA ADIGAL STREET EXTENSION

Ramalinga Adigal Street Extension guideline value

The current guideline value of Ramalinga Adigal Street Extension is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ramalinga Adigal Street Extension has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a significant drop of 33%. However, from 2017 to the 2024 revision, the value increased to Rs 1,650 per sq.ft, reflecting a rise of 64%.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Ramalinga Adigal Street Extension.

• Ramalinga Adigal Street / Periyar Nagar: Rs 1,650 per sq.ft (2024)
• Rajivu Gandhi Street Extn,1st Cross Street: Rs 1,320 per sq.ft (2024)
• Rajiv Street: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 1,110 per sq.ft (2024)
• Ram Nagar: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar Extn.: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Adigal Street Extension

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramalinga Adigal Street Extension?

The Sub Registrar Office that covers Ramalinga Adigal Street Extension 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 further assistance.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the stamp duty and registration fees are calculated based on it.

During the registration process, the guideline value serves as a reference point for the authorities to assess the property’s worth. This ensures that the transaction is documented accurately and reflects the prevailing market conditions.

Frequently asked questions

What is the current guideline value of Ramalinga Adigal Street Extension?

The current guideline value of Ramalinga Adigal Street Extension is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,650 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification for Ramalinga Adigal Street Extension?

Ramalinga Adigal Street Extension is classified as Residential Class IV Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ramalinga Adigal Street Extension is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.