Guideline Value for RAMAPURAMGRAMAM MAIN ROAD

Ramapuramgramam Main Road guideline value

The current guideline value of Ramapuramgramam Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Ramapuram village under the Chennai South Joint II SRO and falls under Residential Class II Type - II land classification.

How the guideline value of Ramapuramgramam Main Road has changed

The guideline value for Ramapuramgramam Main Road has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before rising to the current rate of Rs 2,750 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value of Ramapuramgramam Main Road is below this median.

• Ramapuramgramam: Rs 2,750 per sq.ft (2024)
• Ramasamy Street: Rs 2,750 per sq.ft (2024)
• Ramalingam Street: Rs 2,750 per sq.ft (2024)
• Rajiv Nagar: Rs 2,750 per sq.ft (2024)
• Rajeswari Street: Rs 3,100 per sq.ft (2024)
• Ravi Colony Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramapuramgramam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramapuramgramam Main Road?

The Sub Registrar Office that covers Ramapuramgramam Main Road 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 Ramapuram

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable duties, ensuring that the transaction is compliant with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Ramapuramgramam Main Road?

The current guideline value of Ramapuramgramam Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the other streets in Ramapuram with their guideline values?

Other streets in Ramapuram include Ramapuramgramam, Ramasamy Street, Ramalingam Street, and Rajiv Nagar, all valued at Rs 2,750 per sq.ft in 2024, while Rajeswari Street has a higher value of Rs 3,100 per sq.ft.

What are the registration fees for properties in Ramapuramgramam?

The registration fees are calculated based on the guideline value. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000.

Which office handles registrations for Ramapuramgramam Main Road?

The Chennai South Joint II Sub Registrar Office handles registrations for Ramapuramgramam Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.