Guideline Value for Ramasamy Lane

Ramasamy Lane guideline value

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

How the guideline value of Ramasamy Lane has changed

The guideline value for Ramasamy Lane has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, there were no figures available for the aforementioned years. The most recent figures reflect a steady increase, with the 2024 value being the highest recorded for this street.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a total of 333 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 for these streets is Rs 8,800 per sq.ft, indicating that Ramasamy Lane's 2024 value is slightly below this median.

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

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 fees to Rs 7,83,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramasamy Lane?

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

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

The guideline value plays a crucial role during the registration process of property transactions in Mylapore Part 1. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ramasamy Lane?

The current guideline value of Ramasamy Lane 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 Lane has changed 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 median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft. Ramasamy Lane's 2024 value of Rs 8,700 per sq.ft is slightly below this median.

What are the stamp duty and registration fees for a property in Ramasamy Lane?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 87,00,000. The stamp duty would be Rs 6,09,000, and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000.

Where is the Sub Registrar Office for Ramasamy Lane located?

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