Guideline Value for RAMASWAMI CHETTY STREET

Ramaswami Chetty Street guideline value

The current guideline value of Ramaswami Chetty Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Ponneri_2 village under the Ponneri SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Ramaswami Chetty Street has changed

The guideline value register for Ramaswami Chetty Street has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 500 per sq.ft. A significant increase of 40% was observed in the 2024 revision, bringing the guideline value to Rs 700 per sq.ft.

Thus, the transition from the 2023 to the 2024 revision marked a notable change, with the current guideline value now aligning with the median value of Rs 700 per sq.ft for the 75 streets in Ponneri_2 under the Ponneri SRO.

Guideline values in Ponneri_2

In Ponneri_2 village, the guideline values for properties range from Rs 700 to Rs 1,300 per sq.ft, with the median value being Rs 700 per sq.ft. Ramaswami Chetty Street's 2024 guideline value is equal to this median. The following are other streets in Ponneri_2:

• Ramachanra Street: Rs 700 per sq.ft (2024)
• Raji Appartment: Rs 702 per sq.ft (2024)
• Rajam Nagar: Rs 1,300 per sq.ft (2024)
• Railway Station Road: Rs 1,200 per sq.ft (2024)
• Sakthi Nagar: Rs 702 per sq.ft (2024)
• Sakthi Nagar Ext: Rs 702 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswami Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramaswami Chetty Street?

The Sub Registrar Office covering Ramaswami Chetty Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor in property transactions in Ponneri_2, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the sale or purchase of a property.

When you buy or sell property in Ponneri_2, the guideline value ensures that the transaction is recorded at a fair price, which is essential for legal and financial purposes. It helps in maintaining transparency in property dealings and ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Ramaswami Chetty Street?

The current guideline value for Ramaswami Chetty Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ramaswami Chetty Street was Rs 500 per sq.ft in 2023 and increased to Rs 700 per sq.ft in 2024, marking a 40% rise. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Ramaswami Chetty Street?

Ramaswami Chetty Street is classified under Residential Class II Type - I land classification, indicating its suitability for residential development.

Where can I find the registration office for properties in Ponneri_2?

The registration office for properties in Ponneri_2 is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in Ramaswami Chetty Street?

Stamp duty for properties in Ramaswami Chetty Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, resulting in a stamp duty of Rs 49,000.