Guideline Value for Ramasamy Nagar 1st Street

Ramasamy Nagar 1st Street guideline value

The current guideline value of Ramasamy Nagar 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Ramasamy Nagar 1st Street has changed

The guideline value for Ramasamy Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which was then reduced to Rs 2,144 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,200 per sq.ft in the 2023 revision, and further rose to Rs 3,520 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value in this area is Rs 3,960 per sq.ft, indicating that Ramasamy Nagar 1st Street's 2024 figure is below that median.

• Ramasamy Nagar IIIrd Street: Rs 3,520 per sq.ft (2024)
• Ramasamy Nagar: Rs 3,520 per sq.ft (2024)
• Ramasamy Nagar IInd Street: Rs 3,520 per sq.ft (2024)
• Ramasamy Nagar Main Road: Rs 3,520 per sq.ft (2024)
• Ramas Enclave: Rs 3,520 per sq.ft (2024)
• Ramanatha Eswarar Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramasamy Nagar 1st Street?

The Sub Registrar Office covering Ramasamy Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Porur

The guideline value plays a crucial role during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these fees are calculated based on a standardized value.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction, which is essential for both buyers and sellers. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ramasamy Nagar 1st Street?

The current guideline value of Ramasamy Nagar 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024, reflecting a 10% increase. The value was Rs 2,144 per sq.ft in 2017 and Rs 3,200 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for Ramasamy Nagar 1st Street?

Ramasamy Nagar 1st Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the registration office for this street?

The registration office for Ramasamy Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,20,000, the stamp duty at 7% would be Rs 2,46,400.