Guideline Value for Ramapalayam

Ramapalayam guideline value

The current guideline value of Ramapalayam is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under Chengalpattu Town village, governed by the Chengleput Joint I SRO. The land classification is Residential Class V Type - I.

How the guideline value of Ramapalayam has changed

Over the years, the guideline value of Ramapalayam has seen several revisions. The earliest figure available is from 2007, when the guideline value was Rs 285 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 426%. However, it then decreased to Rs 1,005 per sq.ft in 2017, which represents a drop of 33%. The value further rose to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 figure to the current 2024 value, there has been a substantial increase of 479%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Chengalpattu Town

In total, there are 55 streets in Chengalpattu Town under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value among these streets is Rs 3,025 per sq.ft, placing Ramapalayam's 2024 figure below that median.

• Rajeswari Vedachalam Street: Rs 3,850 per sq.ft (2024)
• Rajaji Street: Rs 5,500 per sq.ft (2024)
• Ragavanar Street: Rs 3,025 per sq.ft (2024)
• Pudukarai ( Nadu Street): Rs 2,200 per sq.ft (2024)
• Pudu Eri: Rs 2,420 per sq.ft (2024)
• Pillaiyar Kulam Street: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Ramapalayam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. 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 Ramapalayam?

The Sub Registrar Office that covers Ramapalayam is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Chengalpattu Town

When buying or selling property in Chengalpattu Town, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the value of the property for these calculations, ensuring that the fees reflect the current market conditions as per the official register.

It is essential for buyers and sellers to be aware of the guideline value to avoid discrepancies during the registration process. The guideline value serves as a benchmark for transactions, helping to standardize property valuations across the region.

Frequently asked questions

What is the current guideline value of Ramapalayam?

The current guideline value of Ramapalayam is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 285 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, which is a total increase of 479%.

What is the land classification of Ramapalayam?

Ramapalayam is classified as Residential Class V Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Ramapalayam?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a plot valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500.

Which Sub Registrar Office covers Ramapalayam?

The Chengleput Joint I Sub Registrar Office covers Ramapalayam, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.