Guideline Value for RAMAPURAM RAMASAMY STREET

Ramapuram Ramasamy Street guideline value

The current guideline value of Ramapuram Ramasamy Street, located in Saidapet village, is Rs 4,950 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Ramapuram Ramasamy Street has changed

The guideline value for Ramapuram Ramasamy 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 saw a significant increase to Rs 1,100 per sq.ft in 2007, which was a 98% jump. Following this, the value rose dramatically to Rs 4,500 per sq.ft in 2012, reflecting a 309% increase. However, it then decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33%. The value rebounded to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 4,950 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,017%. There are no figures available for revisions in years not mentioned in the register.

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 Ramapuram Ramasamy Street's 2024 figure above this median.

• Ramanujam Pillai 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 Ramapuram Ramasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, while the registration fee at 2% would be Rs 99,000. Together, the total cost for these fees would be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramapuram Ramasamy Street?

The Sub Registrar Office that covers Ramapuram Ramasamy 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Saidapet. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps determine the legal and financial responsibilities associated with the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to accurately assess the costs involved.

Frequently asked questions

What is the current guideline value of Ramapuram Ramasamy Street?

The current guideline value of Ramapuram Ramasamy 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 significantly from Rs 443 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 1,017% over this period.

What is the classification of land on Ramapuram Ramasamy Street?

Ramapuram Ramasamy Street is classified as Residential Class II Type - I according to the local land classification.

What are the stamp duty and registration fees for property on this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 49,50,000. The stamp duty at 7% is Rs 3,46,500, and the registration fee at 2% is Rs 99,000, totaling Rs 4,45,500.

Where can I find the Sub Registrar Office for Ramapuram Ramasamy Street?

The Sub Registrar Office for Ramapuram Ramasamy Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.