Guideline Value for Ramalingeswarar Koil Street

Ramalingeswarar Koil Street guideline value

The current guideline value of Ramalingeswarar Koil Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramalingeswarar Koil Street has changed

The guideline value for Ramalingeswarar Koil Street has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 7,000 per sq.ft, which increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

This increase reflects a consistent upward adjustment in the guideline value for the street. The 2024 figure of Rs 7,700 per sq.ft is the most recent and is applicable from 1 July 2024.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ramalingeswarar Koil Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ramalingeswarar Koil Street?

The Sub Registrar Office that covers Ramalingeswarar Koil 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 information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor when buying or selling property in Mylapore Part 2. It serves as a benchmark for calculating the stamp duty and registration fees during the property registration process. Buyers and sellers must be aware of the guideline value to ensure that they comply with the legal requirements.

When registering a property, the guideline value is used to determine the applicable charges, which may affect the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Ramalingeswarar Koil Street?

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

How much 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% increase.

What is the land classification for Ramalingeswarar Koil Street?

Ramalingeswarar Koil Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees when buying or selling property. It serves as a benchmark for these charges, ensuring compliance with legal requirements during the registration process.