Guideline Value for Ramasamy Street

Ramasamy Street guideline value

The current guideline value of Ramasamy Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

How the guideline value of Ramasamy Street has changed

The guideline value for Ramasamy Street has undergone several revisions over the years. In 2002, the value was Rs 482 per sq.ft, which increased to Rs 594 per sq.ft in 2003. Following that, the value rose to Rs 750 per sq.ft in 2007, marking a significant increase of 26% from the previous year. The value then saw a substantial jump to Rs 4,000 per sq.ft in 2012, a 433% increase from 2007. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%.

From 2017, the guideline value increased to Rs 4,000 per sq.ft in 2023, and then further rose to Rs 4,400 per sq.ft in 2024, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 813%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Ramasamy Street's 2024 figure above this median.

• Ramasamy Pandithar Street: Rs 2,200 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)
• Ranganathapuram 3rdCross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramasamy Street?

The Sub Registrar Office that covers Ramasamy 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Tambaram. It is used to determine the stamp duty and registration fees applicable on the property being bought or sold.

When a property is registered, the guideline value serves as a benchmark for calculating the necessary fees. Buyers and sellers should be aware that the fees are based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Ramasamy Street?

The current guideline value of Ramasamy Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen multiple revisions, starting from Rs 482 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 813%.

What are the stamp duty and registration fees for properties in Ramasamy Street?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Ramasamy Street?

The Tambaram Joint 1 Sub Registrar Office is responsible for the registration of properties on Ramasamy Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the median guideline value for streets in Tambaram?

The median guideline value for streets in Tambaram is Rs 3,300 per sq.ft, with Ramasamy Street's current value of Rs 4,400 per sq.ft being above this median.