Guideline Value for Ramasamy Garden Street

Ramasamy Garden Street guideline value

The current guideline value of Ramasamy Garden Street is Rs 7,700 per sq.ft. This street is located in Triplicane village, under the Triplicane SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Ramasamy Garden Street has changed

The guideline value for Ramasamy Garden Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,650 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, this figure dropped to Rs 4,690 per sq.ft in 2017. The latest revision in 2024 has raised the guideline value to Rs 7,700 per sq.ft, marking a 64% increase from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 367%. The revisions for the years 2023, 2003, and 2002 have no figure available for this street in the register.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Ramasamy Garden Street's 2024 figure above that median.

• Ramasamy Maistry Street: Rs 7,700 per sq.ft (2024)
• Ramasamy Street: Rs 5,500 per sq.ft (2024)
• Ranganathan Street: Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 1st Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 2nd Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 3rd Lane (Street): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty is charged at 7%, which totals Rs 5,39,000, and the registration fee is 2%, amounting to Rs 1,54,000. Together, these fees total Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramasamy Garden Street?

The Sub Registrar Office covering Ramasamy Garden Street is the Triplicane 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 Triplicane

The guideline value is a crucial factor in property transactions in Triplicane, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value serves as a benchmark for the minimum price at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions within the area.

Frequently asked questions

What is the current guideline value of Ramasamy Garden Street?

The current guideline value of Ramasamy Garden Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,650 per sq.ft to Rs 7,700 per sq.ft in 2024, marking an overall increase of 367%. There were fluctuations in the values during the revisions in 2012 and 2017.

What is the land classification for Ramasamy Garden Street?

The land classification for Ramasamy Garden Street is Mixed Type - II, which indicates the type of development and usage allowed in the area.

Where can I find the Sub Registrar Office for Ramasamy Garden Street?

The Sub Registrar Office for Ramasamy Garden Street 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, for a property valued at Rs 77,00,000, the stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000.