Guideline Value for Ramasamy Street

Ramasamy Street guideline value

The current guideline value of Ramasamy 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 Street has changed

The guideline value for Ramasamy Street has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, followed by a decrease to Rs 536 per sq.ft in 2017. The 2023 revision brought the value up to Rs 800 per sq.ft, and the most recent 2024 revision has further increased it to Rs 850 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2007 to 2024, the overall change is an increase of 183%. Notably, the guideline value rose by 167% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. Subsequently, there was a substantial increase of 49% from 2017 to 2023, culminating in a 6% increase from 2023 to 2024.

Guideline values in Selaiyur

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

• Ramasamy Pandithar 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the 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, totaling Rs 76,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramasamy Street?

The Sub Registrar Office covering Ramasamy 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 in the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Ramasamy Street?

The current guideline value of Ramasamy 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 300 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, showing an overall increase of 183% over the years.

What is the land classification of Ramasamy Street?

Ramasamy Street is classified as Residential Class V Type - I, indicating its designation for residential purposes.

What are the stamp duty rates for property in Ramasamy Street?

The stamp duty for property transactions in Ramasamy Street is charged at 7% of the guideline value or sale price, whichever is higher.

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

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