Guideline Value for Rajaram Street

Rajaram Street guideline value

The current guideline value of Rajaram Street in Ramapuram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Rajaram Street has changed

The guideline value for Rajaram Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 2,500 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Rajaram Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Rajaram Street's 2024 guideline value of Rs 2,750 per sq.ft is below this median.

• Rajan Street: Rs 3,100 per sq.ft (2024)
• Rajeswari Street: Rs 3,100 per sq.ft (2024)
• Rajagopal Street: Rs 3,100 per sq.ft (2024)
• Rajiv Nagar: Rs 2,750 per sq.ft (2024)
• Raghavendra Nagar: Rs 3,100 per sq.ft (2024)
• Ragavendra Nagar Main Road: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost together to Rs 2,47,500. It is essential 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 Rajaram Street?

Rajaram 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rajaram Street?

The current guideline value of Rajaram Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rajaram Street has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Rajaram Street?

Rajaram Street is classified as Residential Class II Type - II under the Chennai South Joint II SRO.

How does Rajaram Street's guideline value compare to other streets in Ramapuram?

Rajaram Street's 2024 guideline value of Rs 2,750 per sq.ft is below the median value of Rs 3,100 per sq.ft for other streets in Ramapuram.

Where can I find the Sub Registrar Office for Rajaram Street?

The Sub Registrar Office covering Rajaram Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.