Guideline Value for RAMALINGAPURAM 3RD STREET

Ramalingapuram 3rd Street guideline value

The current guideline value of Ramalingapuram 3rd Street is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village and falls under the Avadi SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Ramalingapuram 3rd Street has changed

The guideline value for Ramalingapuram 3rd Street has seen several revisions over the years. In 2002, the value was Rs 171 per sq.ft, which increased to Rs 197 per sq.ft in 2003. Following this, the value rose significantly to Rs 350 per sq.ft in 2007, and further increased to Rs 1,200 per sq.ft in 2012. However, there was a decrease to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 sets it at Rs 1,625 per sq.ft.

In terms of changes, from 2002 to 2003, there was an increase of 15%. The value rose by 78% from 2003 to 2007. The jump from 2007 to 2012 was a significant 243%. However, the value decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a notable increase of 87%, followed by an 8% rise from 2023 to 2024. Overall, the guideline value has increased by 850% from 2002 to 2024.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft. The median guideline value for these streets is Rs 1,625 per sq.ft, which is equal to the 2024 figure for Ramalingapuram 3rd Street.

• Ramalingapuram 2nd Street: Rs 1,625 per sq.ft (2024)
• Ramalingapuram 4th Street: Rs 1,625 per sq.ft (2024)
• Ramalingapuram 1st Street: Rs 1,625 per sq.ft (2024)
• Ramalingapuram Gandhi Street: Rs 1,625 per sq.ft (2024)
• Ramalingapuram T.K.T.Street: Rs 1,625 per sq.ft (2024)
• Raman Nagar Main Road: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalingapuram 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,625 per sq.ft, the guideline value amounts to Rs 16,25,000. The stamp duty at 7% would be Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, totaling Rs 1,46,250. 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 Ramalingapuram 3rd Street?

The Sub Registrar Office that covers Ramalingapuram 3rd Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

You can find your SRO for further information.

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

The guideline value is a crucial factor when registering a property in Paruthipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ramalingapuram 3rd Street?

The current guideline value of Ramalingapuram 3rd Street is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2002 to Rs 1,625 per sq.ft in 2024, reflecting an overall increase of 850% over this period.

What is the land classification for Ramalingapuram 3rd Street?

Ramalingapuram 3rd Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 16,25,000, the total stamp duty and registration fees would amount to Rs 1,46,250, which includes a stamp duty of Rs 1,13,750 and a registration fee of Rs 32,500.

Where can I find the Sub Registrar Office for Ramalingapuram 3rd Street?

The Avadi Sub Registrar Office covers Ramalingapuram 3rd Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.