Guideline Value for Raman Street

Raman Street guideline value

The current guideline value of Raman Street in Kovilpathagai village, under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Raman Street has changed

In the 2012 revision, the guideline value was Rs 800 per sq.ft. This figure then decreased to Rs 536 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for Raman Street in the revisions from the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Raman Street's 2024 guideline value of Rs 880 per sq.ft is above this median.

• Ramakrishna Nagar: Rs 870 per sq.ft (2024)
• Rajivgandhi Nagar Main Road: Rs 806 per sq.ft (2024)
• Rangarajan Nagar: Rs 880 per sq.ft (2024)
• Rajivgandhi Nagar 8th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 7th Street: Rs 806 per sq.ft (2024)
• Rajivgandhi Nagar 6th Street: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Raman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. 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 Raman Street?

The Raman Street is covered by the Ambattur Sub Registrar Office located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kovilpathagai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When you buy or sell property, the guideline value serves as a benchmark for valuation. This means that regardless of the actual sale price, the registration will be based on the guideline value if it is higher, ensuring transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Raman Street?

The current guideline value of Raman Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Raman Street?

Raman Street is classified as Residential Class II Type - I.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Raman Street?

The Ambattur Sub Registrar Office handles registrations for Raman Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.