Guideline Value for Ramasamy 2st Steet

Ramasamy 2st Steet guideline value

The current guideline value of Ramasamy 2st Steet is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village, under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ramasamy 2st Steet has changed

According to the revisions, the register has no figure for Ramasamy 2st Steet for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 8,000 per sq.ft in 2023, which increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

This increase reflects a change in the valuation of properties in the area, with the current figure being effective from 1 July 2024. The previous revision in 2023 was the last recorded value before this adjustment.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Ramasamy 2st Steet's 2024 figure below that median.

• Ramasamy 1st Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy 3rd Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy 4th Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy Lane: Rs 8,700 per sq.ft (2024)
• Ramasamy Street: Rs 8,700 per sq.ft (2024)
• Ramalingeswarar Koil Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy 2st Steet

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 87,00,000. The stamp duty at 7% amounts to Rs 6,09,000, and the registration fee at 2% totals Rs 1,74,000, making the total fees together Rs 7,83,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramasamy 2st Steet?

The Sub Registrar Office that covers Ramasamy 2st Steet is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor during property transactions in Mylapore Part 2, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers need to pay when acquiring property.

When selling a property, the guideline value helps establish a baseline for pricing, ensuring that the transaction is compliant with local regulations. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Ramasamy 2st Steet?

The current guideline value of Ramasamy 2st Steet is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the registration office for Ramasamy 2st Steet?

The registration office for Ramasamy 2st Steet is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Ramasamy 2st Steet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 at 7%.

What are the other streets with similar guideline values in Mylapore Part 2?

Other streets in Mylapore Part 2 with a guideline value of Rs 8,700 per sq.ft include Ramasamy 1st Steet, Ramasamy 3rd Steet, Ramasamy 4th Steet, Ramasamy Lane, and Ramasamy Street, while Ramalingeswarar Koil Street has a guideline value of Rs 7,700 per sq.ft.