Guideline Value for Ramasamy 4th Steet

Ramasamy 4th Steet guideline value

The current guideline value of Ramasamy 4th Steet is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 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 4th Steet has changed

The guideline value for Ramasamy 4th Steet has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the value at Rs 8,000 per sq.ft, which was then increased to Rs 8,700 per sq.ft in 2024, marking a change of +9%.

Prior to the 2023 revision, there were no recorded figures for the street in the earlier years mentioned. The 2024 figure of Rs 8,700 per sq.ft reflects the latest update in the guideline value register.

Guideline values in Mylapore Part 1

Mylapore Part 1 village has a range of guideline values across its 333 streets under the Chennai Central Joint I SRO, with figures 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 4th Steet's 2024 figure below this median.

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

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

You can use the stamp duty and registration fee calculator to get an estimate based on your specific property details.

Which Sub Registrar Office covers Ramasamy 4th Steet?

The Sub Registrar Office that covers Ramasamy 4th 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 1

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 1. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's worth as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Ramasamy 4th Steet?

The current guideline value of Ramasamy 4th 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 for Ramasamy 4th Steet was Rs 8,000 per sq.ft in 2023 and increased to Rs 8,700 per sq.ft in 2024, marking a change of +9%. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values, with figures ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value in this area is Rs 8,800 per sq.ft.

What is the stamp duty rate for property in Ramasamy 4th Steet?

The stamp duty rate for property transactions in Ramasamy 4th Steet is 7% of the higher value between the guideline value and the sale price. This is in addition to a registration fee of 2%.

Where can I find the Sub Registrar Office for Ramasamy 4th Steet?

The Sub Registrar Office for Ramasamy 4th Steet is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.