Guideline Value for Ramasamy Padaiyachi Street

Ramasamy Padaiyachi Street guideline value

The current guideline value of Ramasamy Padaiyachi Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ramasamy Padaiyachi Street has changed

The guideline value for Ramasamy Padaiyachi Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 1,000 per sq.ft. In 2017, this value decreased to Rs 670 per sq.ft, marking a change of -33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 1,100 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Ramasamy Padaiyachi Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Ramasamy Padaiyachi Street's 2024 figure is below this median.

• Ramasamy Pandithar Street: Rs 850 per sq.ft (2024)
• Ramasamy Street: Rs 850 per sq.ft (2024)
• Ramanathan Nagar: Rs 950 per sq.ft (2024)
• Rajkumar Avenue: Rs 1,600 per sq.ft (2024)
• Rajeswari Nagar Vijayalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Vidhyalakshmi Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Padaiyachi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramasamy Padaiyachi Street?

The Sub Registrar Office that covers Ramasamy Padaiyachi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Selaiyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. It ensures that the transaction is recorded at a fair value, as per the government’s assessment of the property’s worth.

Furthermore, the guideline value helps in establishing a baseline for property transactions, ensuring transparency and accountability in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramasamy Padaiyachi Street?

The current guideline value of Ramasamy Padaiyachi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Ramasamy Padaiyachi Street?

Ramasamy Padaiyachi Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Ramasamy Padaiyachi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Selaiyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000, leading to a stamp duty of Rs 77,000.