Guideline Value for RAMDASS NAGAR 1ST STREET

Ramdass Nagar 1st Street guideline value

The current guideline value of Ramdass Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ramdass Nagar 1st Street has changed

The guideline value for Ramdass Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision, reflecting a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision has set it at Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ramdass Nagar 1st Street's 2024 figure below that median.

• Ramdass Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Ramdass Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Ramadass Nagar: Rs 1,980 per sq.ft (2024)
• Ramachandra Nagar Ist Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar Cross Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar 4th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramdass Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for these fees Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramdass Nagar 1st Street?

The Sub Registrar Office that covers Ramdass Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Iyyappanthangal. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that these fees are aligned with the prevailing market conditions.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Buyers should ensure that they are prepared to pay the applicable stamp duty based on this value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Ramdass Nagar 1st Street?

The current guideline value of Ramdass Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification of Ramdass Nagar 1st Street?

Ramdass Nagar 1st Street is classified as Residential Class III Type - I.

Which office handles registrations for this area?

The Chennai South Joint I Sub Registrar Office handles registrations for Ramdass Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at 7%.