Guideline Value for RAMASAMY STREET

Ramasamy Street guideline value

The current guideline value of Ramasamy Street in Karapakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Ramasamy Street has changed

The guideline value for Ramasamy Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has established the current value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Ramasamy Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, positioning Ramasamy Street's current value below this median.

• Ramalakshmi Ammal Garden: Rs 1,100 per sq.ft (2024)
• Ranganathan Street: Rs 2,200 per sq.ft (2024)
• RANGASAMY 1st STREET: Rs 1,100 per sq.ft (2024)
• RANGASAMY 2nd CROSS STREET: Rs 1,100 per sq.ft (2024)
• RANGASAMY 2nd STREET: Rs 1,100 per sq.ft (2024)
• Rangasamy Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the 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 Street?

The Sub Registrar Office that covers Ramasamy Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Karapakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The value is set by the Registration Department and is periodically revised to reflect changes in the market.

When selling property, the guideline value is often referenced to ensure that the sale price aligns with the official valuations. This helps maintain transparency in property transactions and ensures that all parties are aware of the costs involved.

Frequently asked questions

What is the current guideline value of Ramasamy Street?

The current guideline value of Ramasamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Ramasamy Street?

For a 1,000 sq.ft property, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 based on the current guideline value.

Which Sub Registrar Office is responsible for Ramasamy Street?

The Neelankarai Sub Registrar Office is responsible for Ramasamy Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Ramasamy Street?

Ramasamy Street is classified as Residential Class III Type - I according to the guideline value register.