Guideline Value for Ramamurthy Colony 2nd Cross Street

Ramamurthy Colony 2nd Cross Street guideline value

The current guideline value of Ramamurthy Colony 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Ramamurthy Colony 2nd Cross Street has changed

Over the years, the guideline value for Ramamurthy Colony 2nd Cross Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, this figure decreased by 33% to Rs 1,340 per sq.ft in 2017. Following that, the value rose significantly to Rs 2,000 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 2,200 per sq.ft in 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value for Ramamurthy Colony 2nd Cross Street is below this median.

• Ramamurthy Colony 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Ramamurthy Colony 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Ramamurthy Colony 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Ramamurthy Colony Main Road: Rs 3,301 per sq.ft (2024)
• Ramanibai Colony Cross Street: Rs 2,400 per sq.ft (2024)
• Ramanibhai Colony Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamurthy Colony 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramamurthy Colony 2nd Cross Street?

The Sub Registrar Office that covers Ramamurthy Colony 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramamurthy Colony 2nd Cross Street?

The current guideline value of Ramamurthy Colony 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What is the land classification for Ramamurthy Colony 2nd Cross Street?

Ramamurthy Colony 2nd Cross Street falls under the Residential Class II Type - I land classification.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%, charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ramamurthy Colony 2nd Cross Street located?

The Sub Registrar Office for Ramamurthy Colony 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.