Guideline Value for RAMANUJAM PILLAI STREET

Ramanujam Pillai Street guideline value

The current guideline value of Ramanujam Pillai Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramanujam Pillai Street has changed

The guideline value for Ramanujam Pillai Street has seen several revisions over the years. In 2002, the guideline value was Rs 443 per sq.ft, which increased to Rs 555 per sq.ft in 2003, marking a 25% rise. The value then rose significantly to Rs 1,100 per sq.ft in 2007, a change of 98%. Following this, the guideline value jumped to Rs 4,500 per sq.ft in 2012, reflecting a substantial increase of 309%. However, it decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, followed by a further rise to Rs 4,950 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,017%. The register has no figures for revisions in years other than those specified.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Ramanujam Pillai Street's 2024 figure above that median.

• Ramapuram Ramasamy Street: Rs 4,950 per sq.ft (2024)
• Rangabashyam Street: Rs 4,400 per sq.ft (2024)
• Rathinam Thottam: Rs 3,300 per sq.ft (2024)
• Rathinam Thottam 1st Street: Rs 4,400 per sq.ft (2024)
• Rajagopalan Street: Rs 4,400 per sq.ft (2024)
• Salaivaiyalar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. 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 Ramanujam Pillai Street?

The Sub Registrar Office that covers Ramanujam Pillai Street is the Chennai South Joint II 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saidapet. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and fairly in the official register. This helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ramanujam Pillai Street?

The current guideline value of Ramanujam Pillai Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 443 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, showing an overall increase of 1,017% over this period.

What is the registration office for Ramanujam Pillai Street?

The registration office for Ramanujam Pillai Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500. These fees are based on the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that transactions are recorded accurately in the official register, promoting transparency in the buying and selling process.