Guideline Value for Ramadass Street

Ramadass Street guideline value

The current guideline value of Ramadass Street in Perungalathur village, under the Padappai SRO, is Rs 2,640 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Ramadass Street has changed

The guideline value for Ramadass Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which saw a significant increase to Rs 2,400 per sq.ft in the 2012 revision. However, the value then decreased to Rs 1,608 per sq.ft in the 2017 revision. The 2023 revision marked a notable increase to Rs 2,400 per sq.ft, followed by the current value of Rs 2,640 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 956%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,310 per sq.ft, positioning Ramadass Street's 2024 figure above this median.

• Rajiv Nagar: Rs 2,640 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 2,310 per sq.ft (2024)
• Ramalinga Adikal Street: Rs 1,650 per sq.ft (2024)
• Ramanar Street: Rs 2,640 per sq.ft (2024)
• Rajeswari Avenue: Rs 1,980 per sq.ft (2024)
• Ramanujam Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Ramadass Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, while the registration fee at 2% would be Rs 52,800, bringing the total to Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramadass Street?

The Sub Registrar Office that covers Ramadass Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Perungalathur. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the appropriate taxes are applied based on the property's value.

When buying or selling property, the guideline value helps both parties understand the minimum value recognized by the government. This value can influence negotiations and final sale prices, as it establishes a baseline for property valuation.

Frequently asked questions

What is the current guideline value of Ramadass Street?

The current guideline value of Ramadass Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, reflecting a total increase of 956% over the years.

What is the land classification for Ramadass Street?

Ramadass Street is classified as Residential Class I Type - I, indicating its designation for residential use.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Ramadass Street?

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 guideline value incurs a total stamp duty of Rs 1,84,800.