Guideline Value for RAMASAMY PADAYACHIAR SALAI (WARD -8)

Ramasamy Padayachiar Salai (Ward -8) guideline value

The current guideline value for Ramasamy Padayachiar Salai (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Ramasamy Padayachiar Salai (Ward -8) has changed

The guideline value for Ramasamy Padayachiar Salai has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then further to Rs 1,321 per sq.ft in the 2024 revision. The changes between these revisions include a decrease of 33% from 2012 to 2017, a substantial increase of 49% from 2017 to 2023, and a rise of 10% from 2023 to 2024.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Ramasamy Padayachiar Salai's 2024 figure above this median.

• Ramanujar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Ramanayakkan Street (Ward -19): Rs 660 per sq.ft (2024)
• Rani Mangammal Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Rajivgandhi Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Rajiv Gandhi Nagar Rail Nagar (Ward -2): Rs 660 per sq.ft (2024)
• Rajam Street (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Padayachiar Salai (Ward -8)

For a 1,000 sq.ft plot at the current rate of Rs 1,321 per sq.ft, the guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, while the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramasamy Padayachiar Salai (Ward -8)?

The Sub Registrar Office covering Ramasamy Padayachiar Salai (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Ramasamy Padayachiar Salai (Ward -8)?

The current guideline value for Ramasamy Padayachiar Salai (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024. There was a decrease of 33% from 2012 to 2017 and an increase of 49% from 2017 to 2023.

What is the land classification for Ramasamy Padayachiar Salai?

Ramasamy Padayachiar Salai is classified as Residential Special Type - V, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890. This is based on the current guideline value of Rs 1,321 per sq.ft.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ramasamy Padayachiar Salai (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information through the relevant online resources.