Guideline Value for Ramalingam Street

Ramalingam Street guideline value

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

How the guideline value of Ramalingam Street has changed

The guideline value for Ramalingam Street has undergone several revisions over the years. In 2002, the value was Rs 298 per sq.ft, which increased to Rs 334 per sq.ft in 2003, marking a 12% rise. Following this, the value saw a significant increase of 259% to reach Rs 1,200 per sq.ft in 2007. The 2012 revision set the value at Rs 2,500 per sq.ft, reflecting a 108% increase from the previous figure. However, the value decreased by 33% to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 2,500 per sq.ft, which was then increased by 12% to the current rate of Rs 2,800 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 840%. The register does not contain figures for any other years.

Guideline values in Ullagaram

Ullagaram village has a total of 298 streets under the Alandur SRO, with the 2024 guideline values 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 equal to the 2024 guideline value of Ramalingam Street.

• Ramalingam Cross 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramalingam Street?

The Sub Registrar Office that covers Ramalingam 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 further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Ullagaram. It serves as a benchmark for determining the minimum value of a property, ensuring that properties are registered at a value that reflects the prevailing market conditions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses in the transaction process. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ramalingam Street?

The current guideline value of Ramalingam 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 298 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 840% over the years.

What are the other streets with the same guideline value in Ullagaram?

Other streets in Ullagaram with the same guideline value of Rs 2,800 per sq.ft include Ramalingam Cross Street, Ramakrishna Street, Rajeshwari Nagar 5th Street, Rajeshwari Nagar 4th Street, and Rajeshwari Nagar 3rd Street.

What is the registration fee for property in Ramalingam Street?

The registration fee for property in Ramalingam Street is 2% of the guideline value. For a property valued at Rs 28,00,000, the registration fee would be Rs 56,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.