Guideline Value for RAMAN STREET

Raman Street guideline value

The current guideline value of Raman Street in Vilingiyambakkam village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Avadi SRO and is classified as Residential Class II Type - I.

How the guideline value of Raman Street has changed

The guideline value for Raman Street has seen several revisions over the years. The most recent revisions are as follows: in 2012, the value was Rs 750 per sq.ft, which decreased to Rs 502 per sq.ft in 2017. Following this, the value rose to Rs 800 per sq.ft in both the 2023 and 2024 revisions, reflecting a 59% increase from the 2017 figure. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is an increase of 7%. The guideline value remained constant at Rs 800 per sq.ft from 2023 to 2024, indicating stability in the recent revisions.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO with 2024 guideline values ranging from Rs 800 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, placing Raman Street's 2024 figure below this median.

• Ramanujam 1st Cross St: Rs 1,625 per sq.ft (2024)
• Ramanujam 2nd Cross St: Rs 1,625 per sq.ft (2024)
• Ramanujam 3rd Cross St: Rs 1,625 per sq.ft (2024)
• Ramanujam 4th Cross St: Rs 1,625 per sq.ft (2024)
• Ramanujam 5th Cross St: Rs 1,625 per sq.ft (2024)
• Ramanujam Street: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Raman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees together to Rs 72,000. Please note that the 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 Raman Street?

The Sub Registrar Office that covers Raman 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 more details.

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

The guideline value is crucial during the registration of property transactions in Vilingiyambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when a property is bought or sold.

When you register a property, the guideline value is considered to ensure that the transaction reflects the market conditions. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Raman Street?

The current guideline value of Raman Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023 and 2024.

What is the median guideline value in Vilingiyambakkam?

The median guideline value for streets in Vilingiyambakkam is Rs 935 per sq.ft, which is higher than the guideline value of Raman Street.

What are the stamp duty rates for properties in Raman Street?

The stamp duty rate for properties in Raman Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Raman Street located?

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