Guideline Value for Ramapuram Kumaran Street

Ramapuram Kumaran Street guideline value

The current guideline value of Ramapuram Kumaran Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village under the Ambattur SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Ramapuram Kumaran Street has changed

The guideline value for Ramapuram Kumaran Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,300 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 2,211 per sq.ft. Following this, the value increased significantly to Rs 3,300 per sq.ft in 2023, and then rose again to the current value of Rs 3,600 per sq.ft in 2024, marking a 9% increase from the previous year.

In terms of percentage changes, from 2017 to 2023, there was a notable increase of 49%. However, the revision from 2012 to 2017 showed a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value is Rs 3,600 per sq.ft, which is equal to the guideline value of Ramapuram Kumaran Street.

• Ramapuram kannagi Street: Rs 3,600 per sq.ft (2024)
• Ramar Kovil Street (Ramapuram): Rs 3,600 per sq.ft (2024)
• Raman Street (Ramapuram): Rs 3,600 per sq.ft (2024)
• Ramanathan Street: Rs 4,600 per sq.ft (2024)
• Ram Barathi Street: Rs 4,600 per sq.ft (2024)
• Ramamoorthy muthaliar Street (Ramapuram): Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ramapuram Kumaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total cost for these fees to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramapuram Kumaran Street?

The Sub Registrar Office that covers Ramapuram Kumaran Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Ambattur. It is used to determine the stamp duty and registration fees applicable during the registration of the property. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Additionally, understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during property transactions. It helps in accurately assessing the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Ramapuram Kumaran Street?

The current guideline value of Ramapuram Kumaran Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then back to Rs 3,300 per sq.ft in 2023, and currently to Rs 3,600 per sq.ft in 2024.

What is the land classification for Ramapuram Kumaran Street?

Ramapuram Kumaran Street falls under the Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for Ramapuram Kumaran Street?

The Sub Registrar Office for Ramapuram Kumaran Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 3,24,000.