Guideline Value for Ramanujam Salai

Ramanujam Salai guideline value

The current guideline value of Ramanujam Salai is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramanujam Salai has changed

The guideline value for Ramanujam Salai has seen several revisions over the years. The earliest available revision is from 2012, which set the value at Rs 3,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 3,500 per sq.ft. In 2024, the guideline value was revised to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is the same as the current value for Ramanujam Salai.

• Ramapuram Road: Rs 3,850 per sq.ft (2024)
• Ramar Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 4th Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Ramanujam Salai?

The Sub Registrar Office that covers Ramanujam Salai is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as the benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is assessed to determine the applicable fees. Buyers and sellers must be aware that the fees are calculated based on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ramanujam Salai?

The current guideline value of Ramanujam Salai is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 3,500 per sq.ft from 2012 to 2023, before increasing to Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

What is the land classification for Ramanujam Salai?

Ramanujam Salai is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Ramanujam Salai?

The Virugambakkam Sub Registrar Office, which covers Ramanujam Salai, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Ramanujam Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.