Guideline Value for Ramagiri 4th Street

Ramagiri 4th Street guideline value

The current guideline value of Ramagiri 4th 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 Street has changed

The guideline value for Ramagiri 4th Street has undergone several revisions over the years. Starting from Rs 609 per sq.ft in 2002, it increased to Rs 683 per sq.ft in 2003, marking a 12% rise. The value then surged dramatically to Rs 2,000 per sq.ft in 2007, reflecting a 193% increase. Following this, the value rose to Rs 4,500 per sq.ft in 2012, which was a 125% increase from the previous revision. However, it decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%.

From 2017 to 2024, the guideline value saw a significant increase of 64%, reaching the current rate of Rs 4,950 per sq.ft. It is important to note that the register has no figure for this street in 2023.

Guideline values in Velachery

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

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

Stamp duty and registration fee for property in Ramagiri 4th 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 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 also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramagiri 4th Street?

The Sub Registrar Office covering Ramagiri 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value when negotiating sale prices, as it directly influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value. This process aids in maintaining transparency and accountability in real estate dealings within the region.

Frequently asked questions

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

The current guideline value of Ramagiri 4th 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 significantly from Rs 609 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 713% over the years.

What is the stamp duty for properties in Ramagiri 4th Street?

The stamp duty for properties in Ramagiri 4th Street is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 3,46,500.

Which Sub Registrar Office covers Ramagiri 4th Street?

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

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for property registration, influencing the minimum value at which a property can be registered. It also affects the stamp duty and registration fees that buyers and sellers must pay during the transaction.