Guideline Value for Ramar Koil 2nd Street

Ramar Koil 2nd Street guideline value

The current guideline value for Ramar Koil 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village, under the Adayar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ramar Koil 2nd Street has changed

The guideline value for Ramar Koil 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2003, when the guideline value was Rs 300 per sq.ft. This increased to Rs 750 per sq.ft in 2007, marking a significant rise of 150%. In 2012, the value saw a further increase to Rs 2,000 per sq.ft, which was a 167% jump from the previous figure. However, in 2017, the guideline value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 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. The median guideline value for these streets is Rs 2,800 per sq.ft, which means that the guideline value for Ramar Koil 2nd Street is below this median.

• Ramar Koil 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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 and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramar Koil 2nd Street?

The Sub Registrar Office that covers Ramar Koil 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

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

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Ramar Koil 2nd Street?

The current guideline value of Ramar Koil 2nd 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 significantly over the years, from Rs 300 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633%.

What is the land classification for Ramar Koil 2nd Street?

Ramar Koil 2nd Street is classified as Residential Class III Type - I, indicating its designation for residential use.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Ramar Koil 2nd Street?

The Adayar Sub Registrar Office handles property registrations for Ramar Koil 2nd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.