Guideline Value for Ramadass Street/ Ganapathy Nagar

Ramadass Street/ Ganapathy Nagar guideline value

The current guideline value for Ramadass Street/ Ganapathy Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Pammal village under the Pammal SRO, classified as Residential Class III Type - II.

How the guideline value of Ramadass Street/ Ganapathy Nagar has changed

Since the early 2000s, the guideline value for Ramadass Street/ Ganapathy Nagar has seen significant increases. The 2002 revision set the value at Rs 157 per sq.ft, which rose to Rs 178 per sq.ft in 2003, marking a 13% increase. By 2007, the value further increased to Rs 260 per sq.ft, reflecting a 46% rise from the previous revision. However, there are no figures available for the revisions in 2012 and 2017.

Following the 2007 revision, the guideline value surged to Rs 1,600 per sq.ft in 2023, a staggering 515% increase. The latest revision in 2024 has set the guideline value at Rs 1,760 per sq.ft, which is a 10% rise from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 1021%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Ramadass Street/ Ganapathy Nagar's current value below that median.

• Ramadass Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)
• Ramadevi Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Ramadoss Street, Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Ramakrishna Iyer Street: Rs 1,980 per sq.ft (2024)
• Raj Street: Rs 1,760 per sq.ft (2024)
• Ramakrishnan Street / Gokulum Colony: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramadass Street/ Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. 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.

Which Sub Registrar Office covers Ramadass Street/ Ganapathy Nagar?

The Sub Registrar Office that covers Ramadass Street/ Ganapathy Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramadass Street/ Ganapathy Nagar?

The current guideline value of Ramadass Street/ Ganapathy Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Over the years, the guideline value has increased significantly, from Rs 157 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1021%.

What is the classification of land in Ramadass Street/ Ganapathy Nagar?

The land classification for Ramadass Street/ Ganapathy Nagar is Residential Class III Type - II, which is indicative of its residential usage.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,60,000, the stamp duty would be 7% of that amount.