Guideline Value

Corporate

Guideline Value for Ramalakshmanan Street

₹3850/sq.ft.

The guideline value for Ramalakshmanan Street in Saligramam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Saligramam

Village

Virugambakkam

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹550 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹450 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹412 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ramalakshmanan Street

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Ramalakshmanan Street guideline value

The current guideline value of Ramalakshmanan Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Ramalakshmanan Street has changed

Over the years, the guideline value of Ramalakshmanan Street has seen significant changes. In 2002, the guideline value was Rs 412 per sq.ft, which increased to Rs 450 per sq.ft in 2003, marking a 9% rise. By 2007, the value jumped dramatically to Rs 550 per sq.ft, reflecting a 22% increase. The 2012 revision saw the value rise to Rs 3,500 per sq.ft, a substantial 536% increase from 2007. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by a further increase to the current rate of Rs 3,850 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 834%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Ramalakshmanan Street's 2024 figure below this median.

Stamp duty and registration fee for property in Ramalakshmanan Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramalakshmanan Street?

The Sub Registrar Office covering Ramalakshmanan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Saligramam. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is registered, the guideline value is considered as the baseline for calculating these fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Ramalakshmanan Street?

The current guideline value of Ramalakshmanan Street is Rs 3,850 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 412 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 834% over this period.

What is the land classification for Ramalakshmanan Street?

Ramalakshmanan Street is classified as Residential Class II Type - II under the Virugambakkam SRO.

How is stamp duty calculated for properties in Ramalakshmanan 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 rate would incur a stamp duty of Rs 2,69,500.

Where can I find the Sub Registrar Office for Ramalakshmanan Street?

The Virugambakkam Sub Registrar Office, which covers Ramalakshmanan Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.