Guideline Value for Ramalingahadikal street

Ramalingahadikal street guideline value

The current guideline value of Ramalingahadikal street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Ramalingahadikal street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The value then increased significantly in the 2023 revision to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, which is a rise of 10% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Ramalingahadikal street.

• Ramalinga Adigalar Street: Rs 2,750 per sq.ft (2024)
• Ramalinga Adigalar Ist Cross Street: Rs 1,650 per sq.ft (2024)
• Ramalinga Adigalar 2nd Street: Rs 1,650 per sq.ft (2024)
• RamaKrishna street,santhi avenue: Rs 2,750 per sq.ft (2024)
• Ramakrishnapuram Kambar Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram 7th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalingahadikal street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramalingahadikal street?

The Sub Registrar Office that covers Ramalingahadikal street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chitlapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is essential for buyers to be aware of this value to ensure they are not overpaying and for sellers to set realistic expectations for their property value during negotiations.

Frequently asked questions

What is the current guideline value of Ramalingahadikal street?

The current guideline value of Ramalingahadikal street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Ramalingahadikal street?

Ramalingahadikal street is classified as Residential Class I Type - III.

What are the stamp duty rates applicable?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where can I find more information about the Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office covers Ramalingahadikal street, and more information can be found by following the link to find your SRO.