Guideline Value for RAMAPURAMGRAMAM

Ramapuramgramam guideline value

The current guideline value of Ramapuramgramam is Rs 2,750 per sq.ft, effective from 1 July 2024. This value is set under the Chennai South Joint II SRO, and the land classification for this area is Residential Class II Type - II.

How the guideline value of Ramapuramgramam has changed

The guideline value for Ramapuramgramam has seen several revisions over the years. Starting from Rs 280 per sq.ft in 2002, the value increased to Rs 346 per sq.ft in 2003, marking a 24% rise. The following revisions showed significant changes, with the value jumping to Rs 1,100 per sq.ft in 2007, which was a 218% increase. In 2012, the value was Rs 2,500 per sq.ft, reflecting a 127% rise from the previous revision. However, it then decreased by 33% to Rs 1,675 per sq.ft in 2017. The value then increased significantly to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,750 per sq.ft in the 2024 revision, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 882%. The register has no figures for the years between these revisions for this street.

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 for Ramapuramgramam is below this median.

• Ramapuramgramam Main Road: 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

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 is charged at 7%, which amounts to Rs 1,92,500, and the registration fee is 2%, totaling Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. Please 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 Ramapuramgramam?

The Sub Registrar Office that covers Ramapuramgramam 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 an essential factor during property registration in Ramapuramgramam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value helps ensure that the transaction is recorded accurately and transparently.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the registration reflects the true value of the property being transferred, thereby maintaining the integrity of property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramapuramgramam?

The current guideline value of Ramapuramgramam 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 several times, starting from Rs 280 per sq.ft in 2002 and reaching Rs 2,750 per sq.ft in 2024. Notable changes include a significant rise from Rs 1,100 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2012.

What is the median guideline value for streets in Ramapuram?

The median guideline value for streets in Ramapuram is Rs 3,100 per sq.ft as of 2024. Ramapuramgramam's guideline value is below this median.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fee would be Rs 2,47,500.

Which Sub Registrar Office covers Ramapuramgramam?

The Chennai South Joint II Sub Registrar Office covers Ramapuramgramam. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.