Guideline Value for Ramamurthy Salai

Ramamurthy Salai guideline value

The current guideline value of Ramamurthy Salai is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Ramamurthy Salai has changed

The guideline value for Ramamurthy Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision, where it was again recorded at Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a total increase of 10%. The revisions for the years 2002, 2003, 2007, and 2017 have no figures recorded for Ramamurthy Salai in the register.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, indicating that Ramamurthy Salai's 2024 figure is below the median.

• Ramalinga Vallalar Street: Rs 4,950 per sq.ft (2024)
• Ramanujam Salai: Rs 3,850 per sq.ft (2024)
• Ramapuram Road: Rs 3,850 per sq.ft (2024)
• Ramar Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamurthy Salai

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,50,000. The stamp duty, charged at 7%, amounts to Rs 1,92,500, while the registration fee at 2% totals Rs 55,000. Together, these fees amount to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramamurthy Salai?

The Sub Registrar Office that covers Ramamurthy Salai is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Valasaravakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark for these fees, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of a property transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ramamurthy Salai?

The current guideline value of Ramamurthy Salai is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase from the previous year.

What is the land classification for Ramamurthy Salai?

Ramamurthy Salai is classified as Residential Class IV Type - I under the guideline value register.

Which Sub Registrar Office covers Ramamurthy Salai?

The Virugambakkam Sub Registrar Office covers Ramamurthy Salai, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated for properties in Ramamurthy Salai?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 2,47,500 based on the current guideline value.