Guideline Value for Ramalinga Colony D Block 3rd Street (Ward 23)

Ramalinga Colony D Block 3rd Street (Ward 23) guideline value

The current guideline value of Ramalinga Colony D Block 3rd Street (Ward 23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Ramalinga Colony D Block 3rd Street (Ward 23) has changed

Looking at the revisions, the guideline value for Ramalinga Colony D Block 3rd Street has seen several changes over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged through the 2023 revision. However, the 2024 revision increased the value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase in the guideline value. It is important to note that for the years 2002, 2003, 2007, and 2017, the register has no figure for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that the current value of Ramalinga Colony D Block 3rd Street is above this median.

• Ramalinga Colony D - Block 3rd Cross st (Ward No.23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D - Block 4th Cross st (Ward No.23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D Block 2nd Street (Ward 23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D Block 4th Street (Ward 23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D - Block 2nd Cross st (Ward No.23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D - Block Main Road (Ward No.23): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga Colony D Block 3rd Street (Ward 23)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramalinga Colony D Block 3rd Street (Ward 23)?

The Sub Registrar Office that covers Ramalinga Colony D Block 3rd Street (Ward 23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value provides a benchmark for assessing the property's value. It is essential for buyers and sellers to 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 Colony D Block 3rd Street?

The current guideline value of Ramalinga Colony D Block 3rd Street (Ward 23) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024. This reflects an overall increase of 8% from 2012 to 2024.

What are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The current guideline values for other streets in the area are Rs 2,700 per sq.ft for several streets, including Ramalinga Colony D Block 2nd Street and Ramalinga Colony D - Block Main Road.

What are the stamp duty and registration fees for property in this area?

The stamp duty for property in Ramalinga Colony D Block 3rd Street is 7%, and the registration fee is 2%. For example, on a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 2,43,000.

Which office handles property registrations for Ramalinga Colony D Block 3rd Street?

The Madhavaram Sub Registrar Office handles property registrations for Ramalinga Colony D Block 3rd Street. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.