Guideline Value for Ramagiri 4th Cross Street

Ramagiri 4th Cross Street guideline value

The current guideline value of Ramagiri 4th Cross Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramagiri 4th Cross Street has changed

The guideline value for Ramagiri 4th Cross Street has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 125% rise. However, this value decreased to Rs 3,015 per sq.ft in 2017, reflecting a decline of 33%. The value then rose sharply to Rs 4,500 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 4,950 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register does not have figures for Ramagiri 4th Cross Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 148%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Ramagiri 4th Cross Street's 2024 value above this median.

• Ramagiri 3rd Street: Rs 4,950 per sq.ft (2024)
• Ramagiri 4th Street: Rs 4,950 per sq.ft (2024)
• Ramagiri 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• Ramagiri 5th Street: Rs 4,950 per sq.ft (2024)
• Ramagiri 2nd Street: Rs 4,950 per sq.ft (2024)
• Ramagiri 6th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Ramagiri 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost together to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Ramagiri 4th Cross Street?

The Sub Registrar Office that covers Ramagiri 4th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the costs involved in the transaction.

Additionally, the guideline value serves as a benchmark for property valuation during registration. It helps to maintain transparency in property transactions and ensures that the government receives appropriate revenue through taxes and fees associated with property sales.

Frequently asked questions

What is the current guideline value of Ramagiri 4th Cross Street?

The current guideline value of Ramagiri 4th Cross Street is Rs 4,950 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 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 148% over the years.

What is the land classification for Ramagiri 4th Cross Street?

Ramagiri 4th Cross Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for a property in Ramagiri 4th Cross Street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles registrations for Ramagiri 4th Cross Street?

The Velacheri Sub Registrar Office handles registrations for Ramagiri 4th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.