Guideline Value for Ramalingam Cross Street

Ramalingam Cross Street guideline value

The current guideline value of Ramalingam Cross Street in Ullagaram village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Ramalingam Cross Street has changed

The guideline value for Ramalingam Cross Street has undergone several revisions over the years. In 2002, the value was Rs 149 per sq.ft, which increased significantly to Rs 167 per sq.ft in 2003. From there, the value surged to Rs 1,200 per sq.ft in 2007, marking a substantial increase of 619%. The value then adjusted to Rs 2,500 per sq.ft in 2012, reflecting a decrease of 33% from the previous revision. In 2017, the value rose again to Rs 1,675 per sq.ft, followed by a significant increase to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,800 per sq.ft in the 2024 revision, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,779%. The register has no figures for revisions in years other than those listed.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is the same as the guideline value for Ramalingam Cross Street.

• Ramalingam Street: Rs 2,800 per sq.ft (2024)
• Ramakrishna Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar Main: Rs 3,900 per sq.ft (2024)
• Rajeshwari Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Rajeshwari Nagar 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalingam Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for stamp duty and registration fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramalingam Cross Street?

The Sub Registrar Office that covers Ramalingam Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Ullagaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate taxes are collected during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ramalingam Cross Street?

The current guideline value of Ramalingam Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 149 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,779% over the years.

What is the classification of the land on Ramalingam Cross Street?

Ramalingam Cross Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property on Ramalingam Cross Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000 based on the current guideline value.

Which office handles registrations for properties on Ramalingam Cross Street?

The Alandur Sub Registrar Office handles registrations for properties on Ramalingam Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.