Guideline Value for RAMASAMY NAGAR 3RD STREET

Ramasamy Nagar 3rd Street guideline value

The current guideline value for Ramasamy Nagar 3rd 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. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ramasamy Nagar 3rd Street has changed

Over the years, the guideline value for Ramasamy Nagar 3rd Street has undergone several revisions. The earliest recorded revision is from 2012, where the value was Rs 1,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 1,660 per sq.ft, marking an 11% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, which is equal to the 2024 figure for Ramasamy Nagar 3rd Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would amount to Rs 1,16,200, and the registration fee at 2% would be Rs 33,200. Together, the total cost for stamp duty and registration would be Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramasamy Nagar 3rd Street?

The Ramasamy Nagar 3rd Street is covered by 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. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the value of the property, ensuring that the transaction is registered at a fair value in accordance with government regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are documented accurately and that the necessary taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Ramasamy Nagar 3rd Street?

The current guideline value of Ramasamy Nagar 3rd 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 increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024.

What is the land classification for Ramasamy Nagar 3rd Street?

The land classification for Ramasamy Nagar 3rd Street is Residential Class III Type - I.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Ramasamy Nagar 3rd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 at a rate of 7%.