Guideline Value for Ramapuram kannagi Street

Ramapuram kannagi Street guideline value

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

How the guideline value of Ramapuram kannagi Street has changed

The guideline value for Ramapuram kannagi Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,300 per sq.ft, which then decreased to Rs 2,211 per sq.ft in the 2017 revision. Following that, the value rose significantly to Rs 3,300 per sq.ft in the 2023 revision, and then to Rs 3,600 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, 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 for these streets is Rs 3,600 per sq.ft, which aligns with the guideline value of Ramapuram kannagi Street.

• Ramapuram Kumaran 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 kannagi 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 to Rs 3,24,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramapuram kannagi Street?

The Sub Registrar Office that covers Ramapuram kannagi 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 is a crucial factor when buying or selling property in Ambattur, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller approaches the registration office, the guideline value serves as a reference point for the transaction. It helps in maintaining transparency and accountability in property dealings, as it reflects the official valuation of the property based on various factors.

Frequently asked questions

What is the current guideline value of Ramapuram kannagi Street?

The current guideline value of Ramapuram kannagi 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 2023 to Rs 3,600 per sq.ft in 2024, a 9% increase. It was Rs 2,211 per sq.ft in 2017 and Rs 3,300 per sq.ft in 2012, showing a significant rise over the years.

What is the land classification for Ramapuram kannagi Street?

The land classification for Ramapuram kannagi Street is Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, on a 1,000 sq.ft plot at Rs 3,600 per sq.ft, the total stamp duty would be Rs 2,52,000, and the registration fee would be Rs 72,000.

Where is the Sub Registrar Office for Ramapuram kannagi Street located?

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