Guideline Value for Ramalingam Street

Ramalingam Street guideline value

The current guideline value of Ramalingam Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I 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. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, which is a 10% increase from the 2023 revision of Rs 7,000 per sq.ft. Prior to these revisions, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the only recorded revisions for Ramalingam Street are from 2023 to 2024, reflecting an upward adjustment. The historical data indicates that there were no guideline values established for this street in the earlier years mentioned.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value range from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Ramalingam Street is below this median.

• Ramalingeswarar Koil Lane: Rs 7,700 per sq.ft (2024)
• Ramalingeswarar Koil Lane Slum: Rs 7,700 per sq.ft (2024)
• Ramalingeswarar Koil Street: Rs 7,700 per sq.ft (2024)
• Ramasamy 1st Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy 2st Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy 3rd Steet: Rs 8,700 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 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, leading to a total of Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also 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 Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official register. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ramalingam Street?

The current guideline value of Ramalingam Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ramalingam Street was Rs 7,000 per sq.ft in 2023, which increased by 10% to Rs 7,700 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Ramalingam Street?

Ramalingam Street is classified as Residential Class II Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Ramalingam Street?

The Sub Registrar Office for Ramalingam Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Ramalingam Street?

Stamp duty for properties in Ramalingam Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 77,00,000, leading to a stamp duty of Rs 5,39,000 at 7%.