Guideline Value for Ramachandra Avenue

Ramachandra Avenue guideline value

The current guideline value of Ramachandra Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ramachandra Avenue has changed

The guideline value for Ramachandra Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then rose again by 10% to Rs 1,650 per sq.ft in the 2024 revision.

In summary, the changes from revision to revision are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, the value increased by 49%; and from 2023 to 2024, it rose by 10%. The overall change from 2012 to 2024 reflects a 10% increase.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which matches the current value for Ramachandra Avenue.

• Ramadas Nagar: Rs 3,850 per sq.ft (2024)
• RajParis Nagar SBI Colony: Rs 1,650 per sq.ft (2024)
• Ramakrishanapuram Vinayagar Street: Rs 1,650 per sq.ft (2024)
• RamaKrishna Nagar: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 2nd street: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 3rd street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandra Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramachandra Avenue?

The Sub Registrar Office that covers Ramachandra Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the current guideline value to avoid overpaying and for sellers to set realistic expectations for their property's worth.

Frequently asked questions

What is the current guideline value of Ramachandra Avenue?

The current guideline value of Ramachandra Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Ramachandra Avenue?

Ramachandra Avenue is classified as Residential Class I Type - III, which indicates its suitability for residential development.

How is stamp duty calculated for properties in Ramachandra Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 16,50,000, leading to a stamp duty of Rs 1,15,500.

Where can I find more information about the Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office, which covers Ramachandra Avenue, is located at No.26, mes Road, East Tambaram, Chennai-600059. You can find more information by visiting the appropriate link.