Guideline Value for Ramar Street 6th Cross Street

Ramar Street 6th Cross Street guideline value

The current guideline value of Ramar Street 6th Cross Street is Rs 3,850 per sq.ft. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramar Street 6th Cross Street has changed

The guideline value for Ramar Street 6th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,500 per sq.ft in the 2023 revision, and finally, the current 2024 revision has established the value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%. However, the overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 is equal to the current value of Ramar Street 6th Cross Street.

• Ramar Street 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 1st 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 6th 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, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. Please note that the 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 6th Cross Street?

The Sub Registrar Office that covers Ramar Street 6th 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 an important reference point when buying or selling property in Valasaravakkam. It is used to determine the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is crucial for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for Ramar Street 6th Cross Street?

The current guideline value for Ramar Street 6th 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 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. It decreased from Rs 3,500 in 2012 to Rs 2,345 in 2017, then increased to Rs 3,500 in 2023.

What is the land classification for Ramar Street 6th Cross Street?

Ramar Street 6th Cross Street is classified as Residential Class II Type - I, indicating its purpose for residential use.

Where can I find the Sub Registrar Office for this street?

The Virugambakkam Sub Registrar Office covers Ramar Street 6th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Ramar Street 6th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 2,69,500.