Guideline Value for RAMASAMY 1ST STREET

Ramasamy 1st Street guideline value

The current guideline value of Ramasamy 1st Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Ramasamy 1st Street has changed

The guideline value for Ramasamy 1st Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure was revised downwards to Rs 1,340 per sq.ft in 2017. However, the value saw a significant increase in the 2023 revision, rising to Rs 2,000 per sq.ft, and further increased to Rs 2,160 per sq.ft in the 2024 revision, marking an 8% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 8%. The most notable change occurred between 2017 and 2023, where the value increased by 49%. It is important to note that for the years 2002, 2003, and 2007, the register has no figure for this street.

Guideline values in Kilkattalai

In Kilkattalai village, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, indicating that Ramasamy 1st Street's 2024 value is below this median.

• Ramaswamy Street: Rs 2,160 per sq.ft (2024)
• Ranga Nagar: Rs 2,200 per sq.ft (2024)
• Ranga Nagar 1 To 3 Streets: Rs 2,200 per sq.ft (2024)
• Ranga Nagar Extn: Rs 2,200 per sq.ft (2024)
• Ranga Nagar Ymca Street: Rs 2,530 per sq.ft (2024)
• Rangaswamy Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total fees together to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on calculating fees.

Which Sub Registrar Office covers Ramasamy 1st Street?

The Sub Registrar Office that covers Ramasamy 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining a standard valuation across different properties in the area.

Frequently asked questions

What is the current guideline value of Ramasamy 1st Street?

The current guideline value of Ramasamy 1st Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Ramasamy 1st Street?

Ramasamy 1st Street is classified as Residential Class III Type - I under the Pallavaram SRO.

Where can I find the Sub Registrar Office for Ramasamy 1st Street?

The Sub Registrar Office for Ramasamy 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Ramasamy 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200.