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. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramasamy 3rd Steet has changed

The guideline value for Ramasamy 3rd Steet has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 8,700 per sq.ft, an increase of 9% from the 2023 revision, which was Rs 8,000 per sq.ft. Prior to 2023, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. This reflects a notable change in the valuation for this street, while the earlier years do not provide any figures for reference.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value range from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Ramasamy 3rd Steet's 2024 figure below that 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 would be 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 cost for these fees to Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 2

The guideline value serves as a benchmark for property transactions in Mylapore Part 2, determining the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

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 as per the 2024 revision.

How much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, representing a 9% increase.

What is the land classification for Ramasamy 3rd Steet?

Ramasamy 3rd Steet is classified as Residential Class I Type - III according to the local land classification regulations.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 87,00,000, the total fees would amount to Rs 7,83,000.