Guideline Value for RAMASAMY RAJA STREET

Ramasamy Raja Street guideline value

The current guideline value of Ramasamy Raja Street in Arumbakkam village, under the Kodambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - III land classification.

How the guideline value of Ramasamy Raja Street has changed

The guideline value for Ramasamy Raja Street has undergone several revisions over the years. In 2002, the guideline value was Rs 834 per sq.ft. This increased to Rs 919 per sq.ft in 2003, marking a 10% rise. The value further increased to Rs 1,100 per sq.ft in 2007, which was a 20% increase from the previous year. In 2012, the value reached Rs 5,000 per sq.ft, reflecting a significant 355% increase from 2007. However, in 2017, it dropped to Rs 3,350 per sq.ft, indicating a decrease of 33% from the previous revision.

In 2023, the guideline value was Rs 5,000 per sq.ft, and it saw a 49% increase to Rs 5,500 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has risen by 559%. There are no figures for any other revisions for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, placing Ramasamy Raja Street's 2024 figure below this median.

• Rani Anna Nagar -Anjugam Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Bharathidasan Street: Rs 6,000 per sq.ft (2024)
• Rani Anna Nagar -Cheran Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -E.V.R. Periyar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Kalingar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar- Main Road: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that 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 details.

Which Sub Registrar Office covers Ramasamy Raja Street?

The Sub Registrar Office that covers Ramasamy Raja Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price of a property.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramasamy Raja Street?

The current guideline value of Ramasamy Raja Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 834 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 559% over the years.

What is the land classification for Ramasamy Raja Street?

Ramasamy Raja Street falls under the Residential Special Type - III land classification.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000, and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office located for Ramasamy Raja Street?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.