Guideline Value for Ramapuram Road

Ramapuram Road guideline value

The current guideline value of Ramapuram Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramapuram Road has changed

Starting from the earliest revision in 2002, the guideline value was Rs 390 per sq.ft. This increased to Rs 424 per sq.ft in 2003, marking a change of +9%. The value saw a significant rise to Rs 650 per sq.ft in 2007, an increase of +53%. Following this, the value surged to Rs 3,500 per sq.ft in 2012, reflecting a remarkable change of +438%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of -33%. The next revision in 2023 brought the value up to Rs 3,500 per sq.ft, an increase of +49%. Most recently, the 2024 revision set the guideline value at Rs 3,850 per sq.ft, representing a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +887%. There are no figures available for the years not mentioned in this register for Ramapuram Road.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the 2024 guideline value of Ramapuram Road.

• Ramanujam Salai: Rs 3,850 per sq.ft (2024)
• Ramar Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 4th Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramapuram Road

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total Rs 3,46,500. The duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed 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 Valasaravakkam

The guideline value is an essential factor during the registration of property transactions in Valasaravakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is important to note that the duty is charged based on the higher of the guideline value or the sale price, which ensures compliance with the regulatory framework.

Frequently asked questions

What is the current guideline value of Ramapuram Road?

The current guideline value of Ramapuram Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, starting from Rs 390 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, representing an overall increase of +887%.

What are the stamp duty rates for properties in Ramapuram Road?

The stamp duty for properties in Ramapuram Road is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ramapuram Road?

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

What other streets have the same guideline value as Ramapuram Road?

Other streets in Valasaravakkam, such as Ramanujam Salai and Ramar Street, also have a guideline value of Rs 3,850 per sq.ft in 2024.