Guideline Value for RAMASAMY STREET

Ramasamy Street guideline value

The current guideline value of Ramasamy Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - I.

How the guideline value of Ramasamy Street has changed

The guideline value for Ramasamy Street has seen significant changes over the years. In the 2002 revision, the value was Rs 2,330 per sq.ft. This increased to Rs 3,200 per sq.ft in 2003, marking a 37% rise. The value further increased to Rs 4,000 per sq.ft in 2007, which was a 25% increase from the previous year. The 2012 revision saw the value remain at Rs 13,000 per sq.ft, but this was a decrease of 33% from the 2017 revision, which set the value at Rs 8,710 per sq.ft. The most recent revisions show a rise to Rs 13,000 per sq.ft in 2023, followed by a notable increase to Rs 14,300 per sq.ft in 2024, reflecting a 10% change.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 514%. There are no figures available for the years in between the listed revisions for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Ramasamy Street's 2024 value above this median.

• Rameshwaram Road: Rs 17,600 per sq.ft (2024)
• Rama Rao Street: Rs 13,200 per sq.ft (2024)
• Ramanujan Street: Rs 13,200 per sq.ft (2024)
• Raman Street: Rs 14,300 per sq.ft (2024)
• Ramanathan Street: Rs 13,200 per sq.ft (2024)
• Ramakrishna Street (Other Than D.No.1 Kences Towers Residencial Complex): Rs 27,500 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 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total fees to Rs 12,87,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tnagar. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ramasamy Street?

The current guideline value of Ramasamy Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,330 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, marking an overall increase of 514%.

What are the stamp duty rates for property in Ramasamy Street?

The stamp duty rate for properties in Ramasamy Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Thiyagaraya nagar Sub Registrar Office located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. The higher value between the guideline value and the sale price is considered for these calculations.