Guideline Value for Ramasamy 3rd Steet

Ramasamy 3rd Steet guideline value

The current guideline value of Ramasamy 3rd Steet is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ramasamy 3rd Steet has changed

The guideline value for Ramasamy 3rd Steet has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 8,000 per sq.ft, which was an increase from the previous revisions. The latest 2024 revision has raised the value to Rs 8,700 per sq.ft, marking a change of +9% from the 2023 figure.

In summary, the guideline value for Ramasamy 3rd Steet has increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. This increase reflects the adjustments made in the valuation of properties in the area.

Guideline values in Mylapore Part 1

Mylapore Part 1 village has a range of guideline values for its streets, with figures varying from Rs 4,400 to Rs 25,300 per sq.ft as of the 2024 revision. The median guideline value in this village is Rs 8,800 per sq.ft, placing Ramasamy 3rd Steet's value below this median.

• Ramasamy 2st Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy 4th Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy 1st 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 3rd Steet

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramasamy 3rd Steet?

The Sub Registrar Office that covers Ramasamy 3rd 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 details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, this value is crucial as it impacts the stamp duty and registration fees that must be paid during the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures compliance with legal requirements and helps in understanding the financial implications of property transactions in Mylapore Part 1.

Frequently asked questions

What is the current guideline value of Ramasamy 3rd Steet?

The current guideline value of Ramasamy 3rd Steet is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed from 2023 to 2024?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%.

What is the median guideline value for streets in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft, which is higher than the current value of Ramasamy 3rd Steet.

What are the registration fees for property in Ramasamy 3rd Steet?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ramasamy 3rd Steet located?

The Sub Registrar Office for Ramasamy 3rd Steet is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.