Guideline Value for RAMASWAMY STREET

Ramaswamy Street guideline value

The current guideline value of Ramaswamy Street is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of Ramaswamy Street has changed

The guideline value for Ramaswamy Street has seen several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 125 per sq.ft. This increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a 540% increase. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a decline of 33%. Subsequently, the 2023 revision maintained the value at Rs 800 per sq.ft, and the 2024 revision also reflects Rs 800 per sq.ft, indicating no change between these two years.

It is important to note that the register has no figures for the years 2002 and 2003 for Ramaswamy Street. Overall, from 2007 to 2024, the guideline value has increased by 540% to the current rate of Rs 800 per sq.ft.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with 2024 guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Ramaswamy Street's current value below this median.

• Rajivgandhi Street: Rs 1,300 per sq.ft (2024)
• Rajeshwari Nagar: Rs 1,300 per sq.ft (2024)
• Rajan Avenue: Rs 1,300 per sq.ft (2024)
• Rajaji Street: Rs 1,300 per sq.ft (2024)
• Sadiq Basha Street: Rs 800 per sq.ft (2024)
• Sakthi Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. 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 Ramaswamy Street?

The Sub Registrar Office that covers Ramaswamy Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When buyers and sellers negotiate a sale price, the guideline value ensures that the transaction is recorded at a fair value for tax purposes. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ramaswamy Street?

The current guideline value of Ramaswamy Street is Rs 800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2024, reflecting a total increase of 540% over this period.

What are the stamp duty and registration fees for properties on Ramaswamy Street?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which Sub Registrar Office handles registrations for Ramaswamy Street?

The Manavalanagar Sub Registrar Office is responsible for handling registrations for Ramaswamy Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, with Ramaswamy Street's current value being below this median at Rs 800 per sq.ft.