Guideline Value for Ramanujar Street

Ramanujar Street guideline value

The current guideline value of Ramanujar Street in Molachoor village is Rs 600 per sq.ft, effective from the 2024 revision. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Ramanujar Street has changed

Over the years, the guideline value of Ramanujar Street has seen several revisions. The 2007 revision recorded a value of Rs 60 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a substantial rise of 900%. However, in the 2017 revision, the value decreased to Rs 402 per sq.ft, reflecting a decline of 33%. The 2023 revision maintained the value at Rs 600 per sq.ft, and the same value was carried into the 2024 revision, indicating no change from the previous year.

Notably, there are no figures available for the years 2002 and 2003 for this street in the register. The overall change from the 2007 revision to the 2024 revision shows an increase of 900%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which aligns with the current value of Ramanujar Street.

• Ramdass Theatre street: Rs 600 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 600 per sq.ft (2024)
• Rajaji Street: Rs 600 per sq.ft (2024)
• Sagaya Annai Nagar -I: Rs 600 per sq.ft (2024)
• Punitha Thomaiyar Street: Rs 600 per sq.ft (2024)
• Punitha Therasa Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Ramanujar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramanujar Street?

The Sub Registrar Office that covers Ramanujar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Molachoor. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ramanujar Street?

The current guideline value of Ramanujar Street is Rs 600 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and returned to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Ramanujar Street?

Ramanujar Street is classified as Residential Special Type - III under the current guidelines.

Where is the Sub Registrar Office for Ramanujar Street located?

The Sub Registrar Office for Ramanujar Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Molachoor?

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 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.