Guideline Value for Ramasamy Pandithar Street

Ramasamy Pandithar Street guideline value

The current guideline value of Ramasamy Pandithar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Ramasamy Pandithar Street has changed

The guideline value for Ramasamy Pandithar Street has undergone several revisions over the years. The earliest recorded revision in 2002 set the value at Rs 482 per sq.ft. This increased to Rs 594 per sq.ft in 2003, followed by a rise to Rs 750 per sq.ft in 2007. A significant jump occurred in 2012 when the value was recorded at Rs 2,000 per sq.ft, which was a 167% increase from the previous revision. However, this value dropped to Rs 1,340 per sq.ft in 2017, representing a decrease of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 356%. There are no other years in the register that provide figures for Ramasamy Pandithar Street.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, indicating that Ramasamy Pandithar Street's current guideline value is below this median.

• Ramasamy Street: Rs 4,400 per sq.ft (2024)
• Ranganathapuram 1stCross Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 1st Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 2ndCross Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Ramakrishnan Street: Rs 6,600 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramasamy Pandithar Street?

The Sub Registrar Office that covers Ramasamy Pandithar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering properties in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramasamy Pandithar Street?

The current guideline value of Ramasamy Pandithar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 482 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 356% over the years.

What is the classification of Ramasamy Pandithar Street?

Ramasamy Pandithar Street is classified as Residential Class I Type - II under the Tambaram Joint 1 SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

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

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.