Guideline Value for Ramalingeswarar Koil Lane Slum

Ramalingeswarar Koil Lane Slum guideline value

The current guideline value for Ramalingeswarar Koil Lane Slum 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, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Ramalingeswarar Koil Lane Slum has changed

The guideline value for Ramalingeswarar Koil Lane Slum has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 7,000 per sq.ft. The register has no figure for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline value was not recorded in the register. The 2024 revision marks a significant adjustment in the value, reflecting the current trends in the area.

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 ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for the area is Rs 8,800 per sq.ft, placing Ramalingeswarar Koil Lane's value below this median.

• Ramalingeswarar Koil Lane: Rs 7,700 per sq.ft (2024)
• Ramalingeswarar Koil Street: Rs 7,700 per sq.ft (2024)
• Ramalingam 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 Ramalingeswarar Koil Lane Slum

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the 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, totaling 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramalingeswarar Koil Lane Slum?

The Sub Registrar Office that covers Ramalingeswarar Koil Lane Slum 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 1. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency in the property market.

Frequently asked questions

What is the current guideline value for Ramalingeswarar Koil Lane Slum?

The current guideline value for Ramalingeswarar Koil Lane Slum is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, marking a 10% rise.

What are the other streets with similar guideline values in Mylapore Part 1?

Other streets in Mylapore Part 1 with the same guideline value of Rs 7,700 per sq.ft include Ramalingeswarar Koil Street and Ramalingam Street.

What is the registration office for Ramalingeswarar Koil Lane Slum?

The registration office for Ramalingeswarar Koil Lane Slum is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 at 7%.