Guideline Value for Ramalingam Street

Ramalingam Street guideline value

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

How the guideline value of Ramalingam Street has changed

The guideline value for Ramalingam Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then further rose to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Ramalingam Street.

• Ramanujam Street: Rs 1,980 per sq.ft (2024)
• Rajkamal Street: Rs 1,650 per sq.ft (2024)
• Rajkamal Cross Street: Rs 1,650 per sq.ft (2024)
• Rajkamal cement Road: Rs 1,650 per sq.ft (2024)
• Rajkamal 2nd Cross st: Rs 1,650 per sq.ft (2024)
• RajivGandhi St: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, leading to a total of Rs 1,48,500. It is important to note that 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 Ramalingam Street?

The Sub Registrar Office that covers Ramalingam 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 here.

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

The guideline value plays a crucial role in property transactions in Peerklankaranai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Ramalingam Street?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,500 per sq.ft to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10%.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Ramalingam Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ramalingam Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees payable during property transactions. It serves as a benchmark for both buyers and sellers in the real estate market.