Guideline Value for Ram Street

Ram Street guideline value

The current guideline value of Ram Street in Pozhichalur village, under the Pammal SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Ram Street has changed

Over the years, the guideline value of Ram Street has seen significant changes. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. The overall increase from the 2017 revision to the 2024 revision is 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The consistent upward trend in the guideline value reflects the changes over the years, particularly the notable 49% rise from 2017 to 2023.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, positioning Ram Street's 2024 value below this median.

• Ram Street, Shanmuga Nagar: Rs 1,320 per sq.ft (2024)
• Ramanthan Nagar Salai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Ramanthan Nagar Salai: Rs 2,200 per sq.ft (2024)
• Ramanathan Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ramanathan Nagar: Rs 2,200 per sq.ft (2024)
• Ramachandrapillai Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Street?

Ram Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Pozhichalur. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value is compared to the sale price to assess the applicable duties. The higher of the two values is used for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ram Street?

The current guideline value of Ram Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Pozhichalur with their guideline values?

Other streets in Pozhichalur include Ram Street, Shanmuga Nagar at Rs 1,320 per sq.ft, and several streets in Ramanthan Nagar at Rs 2,200 per sq.ft.

What is the stamp duty rate for properties in Ram Street?

The stamp duty rate for properties in Ram Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Ram Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details through the provided link.