Guideline Value for RAMASWAMI MUDHALI STREET

Ramaswami Mudhali Street guideline value

The current guideline value of Ramaswami Mudhali Street is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Chinnakavanam village and falls under the Ponneri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramaswami Mudhali Street has changed

The guideline value for Ramaswami Mudhali Street has undergone several revisions over the years. In 2012, the value was set at Rs 200 per sq.ft. This increased to Rs 134 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 124%, bringing the value back to Rs 300 per sq.ft. The guideline value remained the same at Rs 300 per sq.ft in the 2023 revision and continues at this rate in the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Ramaswami Mudhali Street. Overall, from 2012 to 2024, the guideline value has increased by 50%.

Guideline values in Chinnakavanam

In Chinnakavanam village, there are 28 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 400 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which is equal to the guideline value of Ramaswami Mudhali Street. Below are the guideline values for other streets in Chinnakavanam:

• Rasi Garden @ Gomathi Amman Nagar: Rs 400 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Ponneri - Pudhuvoyal Road: Rs 300 per sq.ft (2024)
• Perumbedu Salai: Rs 300 per sq.ft (2024)
• Periya Thambi Mudali St: Rs 300 per sq.ft (2024)
• Pazaverkadu Salai: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswami Mudhali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, while the registration fee at 2% would be Rs 6,000, bringing the total fees together to Rs 27,000. 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramaswami Mudhali Street?

The Sub Registrar Office covering Ramaswami Mudhali 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 Chinnakavanam

The guideline value is a critical factor when it comes to property transactions in Chinnakavanam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value helps in establishing the minimum value at which the property can be registered. This ensures that the government receives the appropriate taxes based on the property's value, thereby maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Ramaswami Mudhali Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023 and remains the same in 2024.

What is the land classification for Ramaswami Mudhali Street?

The land classification for Ramaswami Mudhali Street is Residential Class II Type - I.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in Chinnakavanam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 300 per sq.ft, the stamp duty would be Rs 21,000.