Guideline Value for Ramalinga Adigalar Street

Ramalinga Adigalar Street guideline value

The current guideline value of Ramalinga Adigalar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village and falls under the Redhills SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Ramalinga Adigalar Street has changed

The guideline value for Ramalinga Adigalar Street has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value rose to Rs 2,000 per sq.ft in 2023, and it is currently set at Rs 2,200 per sq.ft from the 2024 revision.

Between the revisions, the changes are notable. From 2007 to 2012, there was a substantial increase of 233%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, followed by a 10% rise from 2023 to 2024. Overall, from 2007 to 2024, there has been a remarkable increase of 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Ramalinga Adigalar Street's 2024 figure above this median.

• Ramalinga Nagar: Rs 2,200 per sq.ft (2024)
• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Raghavel Naicker Street Lane: Rs 1,650 per sq.ft (2024)
• R.R.C. Road: Rs 2,200 per sq.ft (2024)
• Ragavalu Nayakkar Street: Rs 1,650 per sq.ft (2024)
• P.W.D. Office Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Adigalar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 Ramalinga Adigalar Street?

The Sub Registrar Office covering Ramalinga Adigalar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Naravarikuppam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are recorded accurately and fairly.

When a property is sold, the guideline value helps in assessing the transaction's legitimacy and compliance with local regulations. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramalinga Adigalar Street?

The current guideline value of Ramalinga Adigalar Street 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 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Ramalinga Adigalar Street?

The land classification for Ramalinga Adigalar Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Ramalinga Adigalar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Ramalinga Adigalar Street?

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 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.