Guideline Value for RAMAR KOVIL ST

Ramar Kovil St guideline value

The current guideline value of Ramar Kovil St in Srikaligapuram village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the Ramakrishna Rajupettai SRO and is classified as Residential Class I Type - I.

How the guideline value of Ramar Kovil St has changed

In the 2007 revision, the guideline value was Rs 40 per sq.ft. This increased to Rs 75 per sq.ft in the 2012 revision, marking an increase of 88%. However, in the 2017 revision, the value rose significantly to Rs 50 per sq.ft, reflecting a decrease of 33%. The 2023 revision maintained the value at Rs 150 per sq.ft, which remained unchanged until the latest revision in 2024.

From 2017 to 2023, the guideline value surged by 200%. The current figure of Rs 150 per sq.ft in 2024 is consistent with the previous year, indicating no change. Overall, from 2007 to 2024, the guideline value has increased by 275%.

Guideline values in Srikaligapuram

In Srikaligapuram, there are 17 streets under the Ramakrishna Rajupettai SRO with a 2024 guideline value ranging from Rs 150 to Rs 150 per sq.ft. The median value for these streets is also Rs 150 per sq.ft, placing Ramar Kovil St at this median value.

• Road St: Rs 150 per sq.ft (2024)
• Santhu St: Rs 150 per sq.ft (2024)
• Post Office St: Rs 150 per sq.ft (2024)
• Small St: Rs 150 per sq.ft (2024)
• Solingar Raod St: Rs 150 per sq.ft (2024)
• Nehru St: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Ramar Kovil St

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramar Kovil St?

The Sub Registrar Office that covers Ramar Kovil St is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial aspect when registering property transactions in Srikaligapuram. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value provides a benchmark for both buyers and sellers. It helps in setting a fair price for the transaction and ensures compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ramar Kovil St?

The current guideline value of Ramar Kovil St is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 40 per sq.ft in 2007 to Rs 150 per sq.ft in 2024, showing a significant overall increase of 275% over the years.

What is the land classification for Ramar Kovil St?

Ramar Kovil St is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ramar Kovil St?

The Sub Registrar Office for Ramar Kovil St is located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 13,500 based on the current guideline value.