Guideline Value for Ramar koil Street

Ramar koil Street guideline value

The current guideline value of Ramar koil Street is Rs 2,750 per sq.ft. It is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Ramar koil Street has changed

The guideline value for Ramar koil Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for Ramar koil Street in the revisions from 2002, 2003, 2007, and 2012. This lack of data indicates that the street's valuation was not recorded during those years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the current value of Ramar koil Street.

• Ramaoorhy Nagar Near Gandhi Road: Rs 2,750 per sq.ft (2024)
• Ramasamy street: Rs 2,750 per sq.ft (2024)
• Ram Nagar: Rs 3,850 per sq.ft (2024)
• Ramamoorthy Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Ramamoorthy Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Ramamoorthy Nagar 2nd Street: Rs 2,750 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering a property in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for pricing. Buyers and sellers should be aware of the current guideline value to ensure that transactions are conducted fairly and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of Ramar koil Street?

The current guideline value of Ramar koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the land classification for Ramar koil Street?

Ramar koil Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties on Ramar koil Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft property would incur a total cost of Rs 2,47,500 for these fees.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, and it handles registrations for properties in the area.