Guideline Value for Ramamurthy Colony 3rd Cross Street

Ramamurthy Colony 3rd Cross Street guideline value

The current guideline value of Ramamurthy Colony 3rd 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, classified as Residential Class II Type - I.

How the guideline value of Ramamurthy Colony 3rd Cross Street has changed

The guideline value for Ramamurthy Colony 3rd Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a 100% rise. However, it decreased to Rs 1,340 per sq.ft in the 2017 revision, a drop of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to the current rate of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Peravallur

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

• Ramamurthy Colony 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ramamurthy Colony 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Ramamurthy Colony 1st 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 3rd 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 cost 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 calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramamurthy Colony 3rd Cross Street?

The Sub Registrar Office that covers Ramamurthy Colony 3rd 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 plays a crucial role during the registration of property transactions in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value helps establish a baseline for the transaction value, ensuring that the sale price is in line with the prevailing market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Ramamurthy Colony 3rd Cross Street?

The current guideline value of Ramamurthy Colony 3rd 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 a total increase of 120% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Ramamurthy Colony?

The Sembiam Sub Registrar Office handles property registrations for Ramamurthy Colony 3rd Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, with Ramamurthy Colony 3rd Cross Street's value being below this median.