Guideline Value for Ramadas Street

Ramadas Street guideline value

The current guideline value of Ramadas Street in Menambedu village, under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Ramadas Street has changed

The guideline value for Ramadas Street has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value of Ramadas Street is above this median.

• Ramakrishna Nagar: Rs 1,002 per sq.ft (2024)
• Ramakrishnan Avenue: Rs 1,001 per sq.ft (2024)
• Ramakrishnan Street: Rs 1,001 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,300 per sq.ft (2024)
• Rajaram Colony: Rs 1,001 per sq.ft (2024)
• Raja Rajeswari Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Ramadas Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramadas Street?

The Sub Registrar Office that covers Ramadas Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Menambedu, as it determines the stamp duty and registration fees payable during the buying or selling process. Buyers should be aware that the guideline value is used by the registration authorities to assess the value of the property for tax purposes.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramadas Street?

The current guideline value of Ramadas Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a notable decrease from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, followed by an increase to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Ramadas Street?

Ramadas Street is classified as Residential Class II Type - I, indicating its use for residential purposes.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Ramadas Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at the rate of 7%.