Guideline Value for Ramar Street 1st Cross Street

Ramar Street 1st Cross Street guideline value

The current guideline value of Ramar Street 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO, classified as Residential Class II Type - I.

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

The guideline value for Ramar Street 1st Cross Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,500 per sq.ft. This was followed by a decrease in the 2017 revision, where it dropped to Rs 2,345 per sq.ft. However, the most recent 2024 revision has increased the guideline value to Rs 3,850 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. The changes between the revisions show a decrease from 2012 to 2017 of 33%, followed by the substantial increase from 2017 to 2024.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the guideline value of Ramar Street 1st Cross Street.

• Ramar Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 6th Cross Street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramar Street 1st Cross Street?

The Ramar Street 1st Cross Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are prepared to pay the necessary fees based on this value at the time of registration.

Frequently asked questions

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

The current guideline value of Ramar Street 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the registration office for Ramar Street 1st Cross Street?

The registration office for Ramar Street 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Ramar Street 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 3,850 per sq.ft, the stamp duty would amount to Rs 2,69,500.

What other streets have the same guideline value in Valasaravakkam?

Other streets in Valasaravakkam that share the same guideline value of Rs 3,850 per sq.ft include Ramar Street, Ramar Street 2nd Cross Street, Ramar Street 3rd Cross Street, Ramar Street 4th Cross Street, Ramar Street 5th Cross Street, and Ramar Street 6th Cross Street.