Guideline Value for Ramar Koil Street

Ramar Koil Street guideline value

The current guideline value of Ramar Koil Street is Rs 1,980 per sq.ft. This street is located in Thiruvancheri village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ramar Koil Street has changed

The guideline value for Ramar Koil Street has seen several revisions over the years. In the 2007 revision, the value was Rs 200 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, in the 2017 revision, the value decreased to Rs 1,206 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 1,500 per sq.ft, which was a 24% increase from the previous revision. The most recent revision in 2024 has brought the value to Rs 1,980 per sq.ft, reflecting a 32% increase from 2023.

It is important to note that there are no figures available for Ramar Koil Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 890%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is equal to the current value of Ramar Koil Street.

• Rajiv Gandhi Street: Rs 1,980 per sq.ft (2024)
• Rajiv Gandhi Cross Street: Rs 1,980 per sq.ft (2024)
• Sai Nagar Salai: Rs 2,530 per sq.ft (2024)
• Sai Ram Nagar: Rs 2,200 per sq.ft (2024)
• Sakthi Iyyanar Nagar: Rs 1,980 per sq.ft (2024)
• Pillayar Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ramar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. It is important to note that 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 Street?

The Sub Registrar Office that covers Ramar Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramar Koil Street?

The current guideline value of Ramar Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What are the other streets with the same guideline value in Thiruvancheri?

Other streets in Thiruvancheri with the same guideline value of Rs 1,980 per sq.ft include Rajiv Gandhi Street, Rajiv Gandhi Cross Street, Sakthi Iyyanar Nagar, and Pillayar Koil Street.

How is the stamp duty calculated for properties in Ramar Koil Street?

Stamp duty for properties in Ramar Koil Street is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600.

Where is the Sub Registrar Office for Ramar Koil Street located?

The Sub Registrar Office for Ramar Koil Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.