Guideline Value for Ramachandra Street

Ramachandra Street guideline value

The current guideline value of Ramachandra Street in Hastinapuram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Mixed Type - I land.

How the guideline value of Ramachandra Street has changed

The guideline value for Ramachandra Street has seen several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 471%. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The value then rose sharply to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for Ramachandra Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 529%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this village is Rs 2,970 per sq.ft, placing Ramachandra Street's 2024 figure above this median.

• Ramakrishna Street: Rs 4,400 per sq.ft (2024)
• Ramalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Ramamurthy Street: Rs 2,970 per sq.ft (2024)
• Raman 1st Street: Rs 2,970 per sq.ft (2024)
• Raman Street: Rs 2,970 per sq.ft (2024)
• Ramanujam Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramachandra Street?

The Sub Registrar Office that covers Ramachandra Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Hastinapuram, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to assess the stamp duty and registration fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value reflects the official rate determined by the government for property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramachandra Street?

The current guideline value of Ramachandra Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 529% over the years.

What is the median guideline value in Hastinapuram?

The median guideline value in Hastinapuram is Rs 2,970 per sq.ft, with Ramachandra Street's 2024 figure being above this median.

Where is the Sub Registrar Office for Ramachandra Street located?

The Sub Registrar Office for Ramachandra Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Ramachandra Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.