Guideline Value for Ramachandran Street (JPT)

Ramachandran Street (JPT) guideline value

The current guideline value of Ramachandran Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Ramachandran Street (JPT) has changed

The guideline value for Ramachandran Street (JPT) has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 3,750 per sq.ft in both the 2012 and 2023 revisions, reflecting a 369% increase from 2007 to 2012. The most recent revision in 2024 saw the guideline value rise to Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Ramachandran Street (JPT) has a guideline value below this median.

• Ramachandran Street (w.M): Rs 5,500 per sq.ft (2024)
• Rajunaicken Street (Raju St): Rs 6,600 per sq.ft (2024)
• Ramaiya Street: Rs 4,100 per sq.ft (2024)
• Rajiv Gandhi Street(M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Ramakrishnapuram 1st Street: Rs 7,700 per sq.ft (2024)
• Ramakrishnapuram 2nd Street: Rs 7,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ramachandran Street (JPT)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, making the total cost Rs 3,69,000. 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 Ramachandran Street (JPT)?

The Sub Registrar Office that covers Ramachandran Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the overall transaction costs. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ramachandran Street (JPT)?

The current guideline value of Ramachandran Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking a total increase of 413% over the years.

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

Other streets in Kodambakkam include Ramachandran Street (w.M) at Rs 5,500 per sq.ft, Rajunaicken Street (Raju St) at Rs 6,600 per sq.ft, and Ramaiya Street at Rs 4,100 per sq.ft, among others.

What is the stamp duty rate for properties in Ramachandran Street (JPT)?

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

Where can I find the Sub Registrar Office for Ramachandran Street (JPT)?

The Sub Registrar Office for Ramachandran Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.