Guideline Value for Ramar Kovil street

Ramar Kovil street guideline value

The current guideline value for Ramar Kovil street in Thirumangalam village is Rs 605 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Ramar Kovil street has changed

The guideline value for Ramar Kovil street has seen several revisions over the years. In 2012, the value was Rs 200 per sq.ft, which increased to Rs 405 per sq.ft in 2017, marking a 103% rise. The value then remained unchanged at Rs 605 per sq.ft during the 2023 revision and continues at the same rate in 2024, representing a 49% increase from 2017 to 2023.

Overall, from 2012 to 2024, the guideline value has increased by 203%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median value for these streets is Rs 605 per sq.ft, which is equal to the current guideline value of Ramar Kovil street.

• Rajiv Ideal Farms: Rs 605 per sq.ft (2024)
• Rajiv Gandhi Virpannai Koodam: Rs 600 per sq.ft (2024)
• R.B.S Nagar: Rs 600 per sq.ft (2024)
• Sagaya Avenue: Rs 600 per sq.ft (2024)
• Ponniamman Kovil Street(Thirumangalam Madura Kandigai): Rs 250 per sq.ft (2024)
• Ponniamman Kovil Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Ramar Kovil street

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value amounts to Rs 6,05,000. The stamp duty at 7% would be Rs 42,350, and the registration fee at 2% would be Rs 12,100, bringing the total cost for these fees to Rs 54,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramar Kovil street?

The Ramar Kovil street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To locate your SRO, you can find your SRO here.

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

The guideline value is a crucial factor when registering property transactions in Thirumangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

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

Frequently asked questions

What is the current guideline value of Ramar Kovil street?

The current guideline value of Ramar Kovil street is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 200 per sq.ft in 2012 to Rs 405 per sq.ft in 2017, then remained at Rs 605 per sq.ft in both 2023 and 2024. Overall, this represents a 203% increase from 2012 to 2024.

Which Sub Registrar Office covers Ramar Kovil street?

The Sunguvarchattram Sub Registrar Office covers Ramar Kovil street, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What are the stamp duty and registration fees for properties in Ramar Kovil street?

For a property valued at Rs 6,05,000, the stamp duty would be Rs 42,350 and the registration fee would be Rs 12,100, totaling Rs 54,450. These fees are calculated based on the higher of the guideline value or the sale price.

What is the land classification for Ramar Kovil street?

Ramar Kovil street is classified as Residential Class IV Type - I, indicating its zoning for residential use.