Guideline Value for RAMANUJAM STREET

Ramanujam Street guideline value

The current guideline value of Ramanujam Street, located in Vilingiyambakkam village under the Avadi SRO, is Rs 1,625 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - II.

How the guideline value of Ramanujam Street has changed

The guideline value for Ramanujam Street has undergone several revisions over the years. In 2003, the value was Rs 151 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2007, marking a rise of 132%. The value then saw a substantial increase of 329% to reach Rs 1,500 per sq.ft in 2012. However, the following revision in 2017 saw a decrease of 33%, bringing the value down to Rs 1,005 per sq.ft. The guideline value then increased by 49% to Rs 1,500 per sq.ft in 2023, before the latest revision set it at Rs 1,625 per sq.ft in 2024, reflecting an 8% increase.

It is important to note that the register does not have a figure for Ramanujam Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 976%.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median value for these streets is Rs 935 per sq.ft, making Ramanujam Street's 2024 figure of Rs 1,625 per sq.ft above the median.

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

Stamp duty and registration fee for property in Ramanujam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value would be Rs 16,25,000. The stamp duty at 7% would amount to Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, bringing the total to Rs 1,46,250. It is important to note that 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 Street?

The Sub Registrar Office that covers Ramanujam 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vilingiyambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramanujam Street?

The current guideline value of Ramanujam 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 151 per sq.ft in 2003 to Rs 1,625 per sq.ft in 2024, reflecting an overall increase of 976% over the years.

What is the land classification for Ramanujam Street?

Ramanujam Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for properties in Ramanujam Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 1,46,250.

Where is the Sub Registrar Office for Ramanujam 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.