Guideline Value for Ramapuram Road

Ramapuram Road guideline value

The current guideline value of Ramapuram Road in Nesapakkam village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Virugambakkam SRO and is classified as Mixed Special Type - I.

How the guideline value of Ramapuram Road has changed

The guideline value for Ramapuram Road has seen several revisions over the years. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 220 per sq.ft in 2003, marking a 10% increase. The value then rose significantly to Rs 450 per sq.ft in 2007, a 105% increase. Following this, the value jumped to Rs 4,000 per sq.ft in 2012, reflecting a remarkable 789% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The most recent revisions show the value increasing to Rs 4,000 per sq.ft in 2023, and then to Rs 4,400 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2100%. The register has no figures for the years not mentioned in this summary.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft in 2024. The median value for these streets is Rs 3,300 per sq.ft, placing Ramapuram Road's current value above this median.

• Ramapuram Road - Kamarajar Salai: Rs 4,400 per sq.ft (2024)
• Ramanujam Pillai Street: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - South Ganesan Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Seikzhkar Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Sakthi Vinayagar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramapuram Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ramapuram Road?

The Sub Registrar Office that covers Ramapuram Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that both buyers and sellers are aware of their financial obligations. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ramapuram Road?

The current guideline value of Ramapuram Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting a significant increase of 2100% over the years.

What is the land classification for Ramapuram Road?

Ramapuram Road is classified as Mixed Special Type - I, which is relevant for determining its guideline value.

What are the stamp duty and registration fees for property on Ramapuram Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers the registration for Ramapuram Road?

The Virugambakkam Sub Registrar Office covers Ramapuram Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.