Guideline Value for RAMKUMAR STREET

Ramkumar Street guideline value

The current guideline value of Ramkumar Street in Perumalagaram village is Rs 3,190 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Ramkumar Street has changed

The guideline value for Ramkumar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,900 per sq.ft, which then decreased to Rs 1,943 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,900 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,190 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, the guideline value has increased by 10% from the 2012 figure to the 2024 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 825 to Rs 7,920 per sq.ft. The median value is Rs 3,190 per sq.ft, which is the same as the current guideline value for Ramkumar Street.

• Ramakrishnan Street: Rs 3,190 per sq.ft (2024)
• Rani Anna Nagar 1 To 4 Cross Street: Rs 1,650 per sq.ft (2024)
• Rani Anna Nagar Cross Road: Rs 1,650 per sq.ft (2024)
• Rani Anna Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Rani Anna Nagar Mayana Road: Rs 1,650 per sq.ft (2024)
• Rajankuppam Perumal Koil To Ponniamman Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ramkumar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramkumar Street?

Ramkumar Street is covered by the Chennai South Joint II 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 Perumalagaram

The guideline value is an important factor when registering property in Perumalagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of these costs to ensure they are prepared for the total expenditure involved in the property transaction.

Frequently asked questions

What is the current guideline value of Ramkumar Street?

The current guideline value of Ramkumar Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then increased to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the land classification for Ramkumar Street?

Ramkumar Street is classified as Residential Class V Type - I, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties in Ramkumar Street?

For a property valued at Rs 31,90,000, the stamp duty would be Rs 2,23,300, and the registration fee would be Rs 63,800, totaling Rs 2,87,100.

Which office handles registrations for Ramkumar Street?

The registrations for Ramkumar Street are handled by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.