Guideline Value for RAMASWAMY CHETTY STREET

Ramaswamy Chetty Street guideline value

The current guideline value of Ramaswamy Chetty Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramaswamy Chetty Street has changed

The guideline value for Ramaswamy Chetty Street has seen significant changes over the years. Starting from the 2002 revision at Rs 336 per sq.ft, it increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 550 per sq.ft in 2007, reflecting a 49% increase. The next revision in 2012 maintained the value at Rs 4,000 per sq.ft, showing no change from the previous year. In 2023, the value remained at Rs 4,000 per sq.ft before increasing to Rs 4,300 per sq.ft in the 2024 revision, which is an 8% increase. Notably, there is no figure available for the 2017 revision for this street.

Overall, from 2002 to 2024, the guideline value has increased by 1180%. This substantial rise reflects the changes in property valuation over the years, with the most significant jump occurring between 2007 and 2012, where the value surged by 627%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Ramaswamy Chetty Street above this median.

• Ramchandra Iyer Street: Rs 3,200 per sq.ft (2024)
• Ramana Nagar: Rs 3,800 per sq.ft (2024)
• Ranganathapuram Hut Area: Rs 2,200 per sq.ft (2024)
• Rangappan Lane: Rs 2,200 per sq.ft (2024)
• Ramakrishna Mudali Street: Rs 3,800 per sq.ft (2024)
• Ramakrishna Mudali 2nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswamy Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, while the registration fee at 2% would be Rs 86,000, bringing the total cost to Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramaswamy Chetty Street?

The Sub Registrar Office that covers Ramaswamy Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramaswamy Chetty Street?

The current guideline value of Ramaswamy Chetty Street is Rs 4,300 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 336 per sq.ft in 2002 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 1180% over the years.

What is the land classification for Ramaswamy Chetty Street?

Ramaswamy Chetty Street is classified as Residential Class II Type - I.

Where is the Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,300 per sq.ft, the stamp duty would be calculated accordingly.