Guideline Value for Ramachandran Street (w.M)

Ramachandran Street (w.M) guideline value

The current guideline value of Ramachandran Street (w.M) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ramachandran Street (w.M) has changed

The guideline value for Ramachandran Street (w.M) has seen significant changes over the years. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased to Rs 5,000 per sq.ft in the 2012 revision, marking a substantial rise of 313%. The latest revision in 2024 has raised the guideline value further to Rs 5,500 per sq.ft, reflecting a 10% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 355%. It is important to note that the register has no figures for Ramachandran Street for the years 2002, 2003, 2017, and 2023.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Ramachandran Street (w.M) above this median.

• Ramachandran Street (JPT): Rs 4,100 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 (w.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty, charged at 7%, amounts to Rs 3,85,000, while the registration fee at 2% is Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Ramachandran Street (w.M)?

The Sub Registrar Office that covers Ramachandran Street (w.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For further details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramachandran Street (w.M)?

The current guideline value of Ramachandran Street (w.M) is Rs 5,500 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 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 355%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office handles registrations for Ramachandran Street (w.M)?

The Ashok Nagar Sub Registrar Office handles registrations for Ramachandran Street (w.M), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Ramachandran Street (w.M)?

The land classification for Ramachandran Street (w.M) is Residential Class III Type - I.