Guideline Value for Ramamurthy Colony Main Road

Ramamurthy Colony Main Road guideline value

The current guideline value of Ramamurthy Colony Main Road is Rs 3,301 per sq.ft, effective from 1 July 2024. This road is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Ramamurthy Colony Main Road has changed

The guideline value for Ramamurthy Colony Main Road has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 3,000 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 3,301 per sq.ft, a 10% increase from 2023.

It is worth noting that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

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. The median value for these streets is Rs 3,301 per sq.ft, which is equal to the current guideline value of Ramamurthy Colony Main Road.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total cost to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramamurthy Colony Main Road?

The Sub Registrar Office that covers Ramamurthy Colony Main Road 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 that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Ramamurthy Colony Main Road?

The current guideline value of Ramamurthy Colony Main Road is Rs 3,301 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 3,301 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Ramamurthy Colony Main Road?

Ramamurthy Colony Main Road is classified as Residential Special Type - II, which is important for understanding its use and development potential.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and is responsible for property registrations in the area.

How is stamp duty calculated for properties in Ramamurthy Colony Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,01,000, the stamp duty at 7% would be Rs 2,31,070.