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 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village, under the Chengleput Joint II SRO, and is 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 undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, and it has now risen to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

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

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, indicating that the Ramasamy Padayachiar Salai (Ward -8) guideline value is above this median.

• Ramanujar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Ramanayakkan Street (Ward -19): Rs 660 per sq.ft (2024)
• Rani Mangammal Street (Ward -8): Rs 1,320 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 guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration would be Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Ramasamy Padayachiar Salai (Ward -8) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can find your SRO.

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

The guideline value is a critical factor during property registration in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

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 1,320 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 back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Ramasamy Padayachiar Salai?

Ramasamy Padayachiar Salai is classified as Residential Special Type - V, which indicates its intended use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Ramasamy Padayachiar Salai?

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 13,20,000, the stamp duty would be Rs 92,400.