Guideline Value for Ramar Koil 1st Street

Ramar Koil 1st Street guideline value

The current guideline value of Ramar Koil 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village and falls under the Adayar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ramar Koil 1st Street has changed

Over the years, the guideline value of Ramar Koil 1st Street has seen significant changes. In 2003, the guideline value was Rs 300 per sq.ft, which increased to Rs 750 per sq.ft in 2007. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, showing an increase of 167%. However, in 2017, it decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The value saw a substantial rise again to Rs 2,000 per sq.ft in 2023, followed by the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

The overall increase from 2003 to 2024 is a remarkable 633%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,800 per sq.ft, with a median value of Rs 2,800 per sq.ft. Ramar Koil 1st Street's 2024 figure is below this median.

• Ramar Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Rajaji Street: Rs 2,800 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,800 per sq.ft (2024)
• Sannathi Street: Rs 2,800 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ramar Koil 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Ramar Koil 1st Street?

The Sub Registrar Office that covers Ramar Koil 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tharamani. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramar Koil 1st Street?

The current guideline value of Ramar Koil 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 633% over this period.

What is the land classification for Ramar Koil 1st Street?

Ramar Koil 1st Street is classified as Residential Class III Type - I.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Tharamani?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is typically charged at 7% of the applicable value.