Guideline Value for Ramasamy Pandithar Street

Ramasamy Pandithar Street guideline value

The current guideline value of Ramasamy Pandithar Street is Rs 850 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 V Type - I.

How the guideline value of Ramasamy Pandithar Street has changed

The guideline value for Ramasamy Pandithar Street has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in 2023, and finally reached Rs 850 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2007 to 2024, the overall increase in guideline value is 325%. Notably, the value increased by 300% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The most recent change from 2023 to 2024 reflects an increase of 6%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Ramasamy Pandithar Street is below this median.

• Ramasamy Street: Rs 850 per sq.ft (2024)
• Ramasamy Padaiyachi Street: Rs 1,100 per sq.ft (2024)
• Ramanathan Nagar: Rs 950 per sq.ft (2024)
• Rajkumar Avenue: Rs 1,600 per sq.ft (2024)
• Renganathan Nagar: Rs 3,500 per sq.ft (2024)
• Renganathan Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Pandithar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, resulting in a total cost of Rs 76,500. It is important to 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 Pandithar Street?

The Sub Registrar Office that covers Ramasamy Pandithar 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 further assistance.

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

The guideline value is a critical factor during the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is registered, the buyer or seller must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramasamy Pandithar Street?

The current guideline value of Ramasamy Pandithar Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, reflecting an overall increase of 325% over the years.

What are the other streets in Selaiyur with their guideline values?

Other streets in Selaiyur include Ramasamy Street at Rs 850 per sq.ft, Ramasamy Padaiyachi Street at Rs 1,100 per sq.ft, and Rajkumar Avenue at Rs 1,600 per sq.ft, among others.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% on the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 850 per sq.ft incurs a total cost of Rs 76,500 for these fees.

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

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