Guideline Value for RAMASAMY NAGAR 1ST CROSS STREET

Ramasamy Nagar 1st Cross Street guideline value

The current guideline value of Ramasamy Nagar 1st Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Ramasamy Nagar 1st Cross Street has changed

Over the years, the guideline value of Ramasamy Nagar 1st Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. Subsequently, the value increased to Rs 1,500 per sq.ft in the 2023 revision, and further rose to Rs 1,660 per sq.ft in the 2024 revision, reflecting an increase of 11% from the previous year.

In total, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is the same as the current guideline value for Ramasamy Nagar 1st Cross Street.

• Ramasamy Nagar 1st Street: Rs 1,660 per sq.ft (2024)
• Ramasamy Nagar: Rs 1,660 per sq.ft (2024)
• Ramasamy Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Ramasamy Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Ramasamy Nagar 4th Street: Rs 1,660 per sq.ft (2024)
• Rangasamy Nayackar Cross Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,660 per sq.ft, the guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total to Rs 1,49,400. It is important to note that 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 Ramasamy Nagar 1st Cross Street?

The Sub Registrar Office that covers Ramasamy Nagar 1st Cross Street is the Chennai South Joint I 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction process. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Ramasamy Nagar 1st Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Ramasamy Nagar 1st Cross Street?

For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 and the registration fee would be Rs 33,200, totaling Rs 1,49,400.

Which office handles property registration for Ramasamy Nagar 1st Cross Street?

The Chennai South Joint I Sub Registrar Office handles property registration for Ramasamy Nagar 1st Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Ramasamy Nagar 1st Cross Street?

The land classification for Ramasamy Nagar 1st Cross Street is Residential Class III Type - I.