Guideline Value for RAMANUJAM GARDEN STREET

Ramanujam Garden Street guideline value

The current guideline value of Ramanujam Garden Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ramanujam Garden Street has changed

The guideline value for Ramanujam Garden Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 3,350 per sq.ft. The 2023 revision raised it to Rs 5,000 per sq.ft, and the current 2024 revision has increased it further to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Between 2017 and 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the 2024 revision shows a substantial increase of 400%. It is important to note that the register does not have figures for Ramanujam Garden Street for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO carrying a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Ramanujam Garden Street's 2024 figure aligns with this median.

• Ramanujam Garden Lane: Rs 5,500 per sq.ft (2024)
• Ramaswamy Pillai Street: Rs 6,000 per sq.ft (2024)
• Raju Pillai Street: Rs 5,500 per sq.ft (2024)
• Raju Lane: Rs 5,500 per sq.ft (2024)
• Rangaiah Chetty Street: Rs 6,500 per sq.ft (2024)
• Ranganathan Avenue: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramanujam Garden Street?

The Sub Registrar Office that covers Ramanujam Garden Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees based on the property value.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are aligned with the official valuations set by the government. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Ramanujam Garden Street?

The current guideline value of Ramanujam Garden Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 400% over this period.

What are the stamp duty and registration fees for a property in Ramanujam Garden Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations in Purasaivakkam?

The Purasaivakkam Sub Registrar Office handles property registrations in Purasaivakkam, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Ramanujam Garden Street?

Ramanujam Garden Street is classified as Residential Class III Type - I.