Guideline Value for RAMCHANDRA IYER STREET

Ramchandra Iyer Street guideline value

The current guideline value of Ramchandra Iyer Street is Rs 3,200 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 III Type - I.

How the guideline value of Ramchandra Iyer Street has changed

The guideline value for Ramchandra Iyer Street has seen several revisions over the years. Starting from Rs 420 per sq.ft in 2002, it increased to Rs 461 per sq.ft in 2003, marking a 10% increase. The value then rose significantly to Rs 700 per sq.ft in 2007, which was a 52% increase. In 2012, the value remained at Rs 3,000 per sq.ft, and there was no figure available for the year 2017. The next revision in 2023 saw the value again at Rs 3,000 per sq.ft, with the latest revision in 2024 bringing it to Rs 3,200 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 662%. The revisions indicate a substantial growth in the value, particularly between 2007 and 2012, where it jumped from Rs 700 per sq.ft to Rs 3,000 per sq.ft, a remarkable increase of 329%.

Guideline values in Perambur

In Perambur village, 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 Ramchandra Iyer Street's 2024 figure above this median.

• Ramaswamy Chetty Street: Rs 4,300 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 Ramchandra Iyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total fees to Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Ramchandra Iyer Street?

The Sub Registrar Office that covers Ramchandra Iyer 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 Perambur

The guideline value plays a crucial role in the registration process 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 transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are transparent and adhere to the regulations set by the registration department.

Frequently asked questions

What is the current guideline value of Ramchandra Iyer Street?

The current guideline value of Ramchandra Iyer Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 420 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, reflecting an overall increase of 662% over this period.

What is the land classification of Ramchandra Iyer Street?

Ramchandra Iyer Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Ramchandra Iyer Street?

The stamp duty for a property at the current guideline value is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,88,000.

Which office handles property registrations for Ramchandra Iyer Street?

The Purasaivakkam Sub Registrar Office handles property registrations for Ramchandra Iyer Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.