Guideline Value for Ramanibhai Colony Road

Ramanibhai Colony Road guideline value

The current guideline value of Ramanibhai Colony Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Peravallur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Ramanibhai Colony Road has changed

Over the years, the guideline value of Ramanibhai Colony Road has seen several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,700 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 8%. The most notable change was from 2007 to 2012, where the value increased by 257%. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value for Ramanibhai Colony Road is below this median.

• Ramanibai Colony Cross Street: Rs 2,400 per sq.ft (2024)
• Ramanibhai Nagar: Rs 2,700 per sq.ft (2024)
• Ramamurthy Colony Main Road: Rs 3,301 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Ramanibhai Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramanibhai Colony Road?

The Sub Registrar Office that covers Ramanibhai Colony Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Peravallur. It establishes the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps determine the financial obligations involved in the transaction. Buyers should be aware of the guideline value as it directly affects the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Ramanibhai Colony Road?

The current guideline value of Ramanibhai Colony Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a significant overall increase of 286% over this period.

What is the stamp duty for properties in Ramanibhai Colony Road?

The stamp duty for properties in Ramanibhai Colony Road is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can also find your SRO through the provided link.

What are the other streets with guideline values in Peravallur?

Other streets in Peravallur include Ramanibai Colony Cross Street at Rs 2,400 per sq.ft, Ramanibhai Nagar at Rs 2,700 per sq.ft, and Ramamurthy Colony Main Road at Rs 3,301 per sq.ft among others.