Guideline Value for Ramamurthy Street

Ramamurthy Street guideline value

The current guideline value of Ramamurthy Street in Hastinapuram village is Rs 2,970 per sq.ft, effective from 1 July 2024. This property falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Ramamurthy Street has changed

The guideline value of Ramamurthy Street has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 260% rise. However, this value dropped to Rs 1,809 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 2,700 per sq.ft in 2023, followed by another increase to Rs 2,970 per sq.ft in 2024, reflecting a 10% change.

Overall, from 2007 to 2024, the guideline value has increased by 296%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is equal to the guideline value of Ramamurthy Street.

• Raman 1st Street: Rs 2,970 per sq.ft (2024)
• Ramalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Ramakrishna Street: Rs 4,400 per sq.ft (2024)
• Raman Street: Rs 2,970 per sq.ft (2024)
• Ramanujam Street: Rs 2,970 per sq.ft (2024)
• Ramachandra Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramamurthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramamurthy Street?

The Sub Registrar Office that covers Ramamurthy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Hastinapuram, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions and is used to calculate the applicable taxes during registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process. This value is regularly updated based on revisions by the Registration Department.

Frequently asked questions

What is the current guideline value of Ramamurthy Street?

The current guideline value of Ramamurthy Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 296% over the years.

What are the stamp duty and registration fees for property in Ramamurthy Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300 based on the current guideline value.

Which Sub Registrar Office covers Ramamurthy Street?

The Pallavaram Sub Registrar Office covers Ramamurthy Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Ramamurthy Street?

Ramamurthy Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.