Guideline Value for Ramanthan Nagar Salai 1st Cross Street

Ramanthan Nagar Salai 1st Cross Street guideline value

The current guideline value of Ramanthan Nagar Salai 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Ramanthan Nagar Salai 1st Cross Street has changed

The guideline value for Ramanthan Nagar Salai 1st Cross Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which was a significant increase from previous years where no figures were available for the years 2002, 2003, 2007, and 2012. By the 2023 revision, the value increased to Rs 2,000 per sq.ft, marking a 49% rise from the 2017 figure. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This consistent rise indicates a change in the valuation of properties in this area, with the current rate being significantly higher than the 2017 figure.

Guideline values in Pozhichalur

In Pozhichalur, a total of 299 streets fall under the Pammal SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Ramanthan Nagar Salai 1st Cross Street above this median value.

• Ramanthan Nagar Salai: Rs 2,200 per sq.ft (2024)
• Ramanathan Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ramanathan Nagar: Rs 2,200 per sq.ft (2024)
• Ram Street: Rs 1,100 per sq.ft (2024)
• Ram Street, Shanmuga Nagar: Rs 1,320 per sq.ft (2024)
• Ramachandrapillai Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanthan Nagar Salai 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. 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 accurate calculations.

Which Sub Registrar Office covers Ramanthan Nagar Salai 1st Cross Street?

The Ramanthan Nagar Salai 1st Cross Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ramanthan Nagar Salai 1st Cross Street?

The current guideline value of Ramanthan Nagar Salai 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over these years.

What is the stamp duty for properties in this area?

The stamp duty for properties in Ramanthan Nagar Salai 1st Cross Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

What is the median guideline value for streets in Pozhichalur?

The median guideline value for streets in Pozhichalur is Rs 1,320 per sq.ft, with Ramanthan Nagar Salai 1st Cross Street's value being above this median at Rs 2,200 per sq.ft.