Guideline Value for Ramadass Avenue

Ramadass Avenue guideline value

The current guideline value of Ramadass Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Special Type - II.

How the guideline value of Ramadass Avenue has changed

The guideline value for Ramadass Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. The subsequent 2023 revision increased the value to Rs 2,000 per sq.ft, followed by the latest revision in 2024, which raised it to Rs 2,200 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Ramadass Avenue.

• Rajiv Gandhi Street: Rs 850 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 850 per sq.ft (2024)
• RajivGandhi 3rd Street: Rs 850 per sq.ft (2024)
• Rajiv Gandhi 3rd Cross Street: Rs 850 per sq.ft (2024)
• RajivGandhi 2nd Street: Rs 850 per sq.ft (2024)
• Rajiv Gandhi 2nd Cross Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramadass Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramadass Avenue?

The Sub Registrar Office that covers Ramadass Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. 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 registered, the guideline value or the sale price, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramadass Avenue?

The current guideline value of Ramadass Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Ramadass Avenue?

Ramadass Avenue is classified as Residential Special Type - II.

Which Sub Registrar Office serves Ramadass Avenue?

The Selaiyur Sub Registrar Office serves Ramadass Avenue, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the stamp duty on a property in Ramadass Avenue?

The stamp duty on a property in Ramadass Avenue is 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a stamp duty of Rs 1,54,000.