Guideline Value for RAMASWAMY PILLAI STREET

Ramaswamy Pillai Street guideline value

The current guideline value of Ramaswamy Pillai Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Ramaswamy Pillai Street has changed

The guideline value for Ramaswamy Pillai Street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 1,800 per sq.ft. This figure increased dramatically to Rs 5,500 per sq.ft in 2012, marking a rise of 206%. However, in the 2017 revision, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The guideline value then rose to Rs 5,500 per sq.ft in 2023, a 49% increase, and has now reached Rs 6,000 per sq.ft in the 2024 revision, reflecting a 9% rise.

It is important to note that there are no figures available for Ramaswamy Pillai Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Ramaswamy Pillai Street's 2024 figure above this median.

• Ramanujam Garden Street: Rs 5,500 per sq.ft (2024)
• Ramanujam Garden Lane: Rs 5,500 per sq.ft (2024)
• Rangaiah Chetty Street: Rs 6,500 per sq.ft (2024)
• Ranganathan Avenue: Rs 13,200 per sq.ft (2024)
• Ranganathapuram: Rs 4,900 per sq.ft (2024)
• Rangapillai Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswamy Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total cost together Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramaswamy Pillai Street?

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

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ramaswamy Pillai Street?

The current guideline value of Ramaswamy Pillai Street is Rs 6,000 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 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 233%.

What is the land classification for Ramaswamy Pillai Street?

Ramaswamy Pillai Street is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for Ramaswamy Pillai Street?

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

How is the stamp duty calculated for properties in Ramaswamy Pillai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 at a rate of 7%.