Guideline Value for Ramasamy Street

Ramasamy Street guideline value

The current guideline value of Ramasamy Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Ramasamy Street has changed

The guideline value for Ramasamy Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, reflecting a change of +9%.

Prior to the 2023 revision, there were no recorded figures for Ramasamy Street in the earlier years mentioned. The most recent figure of Rs 8,700 per sq.ft places it above the previous year's value.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, making Ramasamy Street's 2024 figure below that median.

• Ramasamy Lane: Rs 8,700 per sq.ft (2024)
• Ramasamy 4th Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy 3rd Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy 2st Steet: Rs 8,700 per sq.ft (2024)
• Ramasamy 1st Steet: Rs 8,700 per sq.ft (2024)
• Ramalingeswarar Koil Street: Rs 7,700 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 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. Duty is charged on the higher of the guideline value or the sale price.

You can calculate your charges using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramasamy Street?

The Sub Registrar Office that covers Ramasamy Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for both the buyer and seller. It helps in establishing a fair price for the transaction and is necessary for legal documentation during the registration process.

Frequently asked questions

What is the current guideline value of Ramasamy Street?

The current guideline value of Ramasamy Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From 2023 to 2024, the guideline value increased from Rs 8,000 per sq.ft to Rs 8,700 per sq.ft, a change of +9%. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values. For instance, Ramasamy Lane, Ramasamy 4th Steet, Ramasamy 3rd Steet, Ramasamy 2st Steet, and Ramasamy 1st Steet all have a guideline value of Rs 8,700 per sq.ft in 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000.

Where is the Sub Registrar Office for Ramasamy Street located?

The Sub Registrar Office for Ramasamy Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.