Guideline Value for Ramanujam Aiyer Street

Ramanujam Aiyer Street guideline value

The current guideline value of Ramanujam Aiyer Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramanujam Aiyer Street has changed

The guideline value for Ramanujam Aiyer Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 250% rise. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, a 9% increase from the previous year.

It is important to note that the register has no figures for Ramanujam Aiyer Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 280%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that Ramanujam Aiyer Street's current guideline value is below this median.

• Ramanan Street: Rs 5,500 per sq.ft (2024)
• Ramalinga Mudali Street: Rs 4,400 per sq.ft (2024)
• Ramakrishna Street: Rs 5,500 per sq.ft (2024)
• Ramaiyer Street: Rs 3,800 per sq.ft (2024)
• Ramaiahpillai Garden Street: Rs 4,400 per sq.ft (2024)
• Ramachandra Mudali Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Aiyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramanujam Aiyer Street?

The Sub Registrar Office that covers Ramanujam Aiyer Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both buyers and sellers. This value is used to calculate the applicable fees, ensuring that both parties are aware of the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Ramanujam Aiyer Street?

The current guideline value of Ramanujam Aiyer Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 280% over the years.

What is the land classification for Ramanujam Aiyer Street?

Ramanujam Aiyer Street is classified as Residential Class II Type - I.

Where can I find the Sowcarpet Sub Registrar Office?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for properties in Ramanujam Aiyer Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.