Guideline Value for Ramar Street 4th Cross Street

Ramar Street 4th Cross Street guideline value

The current guideline value for Ramar Street 4th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Ramar Street 4th Cross Street has changed

The guideline value for Ramar Street 4th Cross Street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft. This figure decreased to Rs 2,345 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 3,850 per sq.ft, marking a 64% rise from the 2017 value. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, 2007, and 2023.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which matches the current guideline value for Ramar Street 4th Cross Street.

• Ramar Street 1st Cross 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)
• Ramar Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramar Street 4th 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 would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramar Street 4th Cross Street?

The Sub Registrar Office that covers Ramar Street 4th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value ensures that the government receives the appropriate revenue from property registrations. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramar Street 4th Cross Street?

The current guideline value of Ramar Street 4th 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. This represents a 64% increase from 2017 to 2024.

What is the land classification for Ramar Street 4th Cross Street?

Ramar Street 4th Cross Street is classified as Residential Class II Type - I. This classification is important for understanding the zoning and permissible uses for properties in this area.

Where can I find the Sub Registrar Office for Ramar Street 4th Cross Street?

The Sub Registrar Office for Ramar Street 4th 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 4th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.