Guideline Value for Ramasamy Maistry Street

Ramasamy Maistry Street guideline value

The current guideline value of Ramasamy Maistry Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Ramasamy Maistry Street has changed

Over the years, the guideline value of Ramasamy Maistry Street has seen significant changes. In the 2007 revision, the value was Rs 1,650 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in 2012, marking a rise of 324%. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 7,000 per sq.ft, which then increased to Rs 7,700 per sq.ft in the 2024 revision, reflecting a rise of 10%.

The guideline value register does not contain figures for the years 2002 and 2003 for Ramasamy Maistry Street. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, positioning Ramasamy Maistry Street's 2024 figure above this median.

• Ramasamy Garden 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 Maistry Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. Please 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 for more details.

Which Sub Registrar Office covers Ramasamy Maistry Street?

The Sub Registrar Office that covers Ramasamy Maistry 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 the registration process for property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Ramasamy Maistry Street?

The current guideline value of Ramasamy Maistry 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%.

What are the other streets with guideline values in Triplicane?

Other streets in Triplicane include Ramasamy Garden Street at Rs 7,700 per sq.ft, Ramasamy Street at Rs 5,500 per sq.ft, and Ranganathan Street at Rs 6,600 per sq.ft, among others.

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

The stamp duty for a property valued at Rs 77,00,000 would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Where is the Sub Registrar Office for Ramasamy Maistry Street located?

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