Guideline Value for Ramanujar Street

Ramanujar Street guideline value

The current guideline value of Ramanujar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Ramanujar Street has changed

The guideline value of Ramanujar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 figure of Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for Ramanujar Street above this median.

• Ramanar Street: Rs 2,750 per sq.ft (2024)
• Ramamoorthy street , barath avenue: Rs 1,650 per sq.ft (2024)
• Ramalingahadikal street: Rs 1,650 per sq.ft (2024)
• Ramalinga Adigalar Street: Rs 2,750 per sq.ft (2024)
• Ramalinga Adigalar Ist Cross Street: Rs 1,650 per sq.ft (2024)
• Ramalinga Adigalar 2nd Street: Rs 1,650 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

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

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ramanujar Street?

The current guideline value of Ramanujar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification of Ramanujar Street?

Ramanujar Street is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Ramanujar Street?

The Sub Registrar Office for Ramanujar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for property in Ramanujar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.