Guideline Value for Ramaswamy Cross Street

Ramaswamy Cross Street guideline value

The current guideline value of Ramaswamy Cross Street, located in Zaminpallavaram village, is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Ramaswamy Cross Street has changed

The guideline value for Ramaswamy Cross Street has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 486 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a 65% rise. The value then surged by 150% to reach Rs 2,000 per sq.ft in 2012. However, it decreased by 33% to Rs 1,340 per sq.ft in 2017. The subsequent revision in 2023 set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,160 per sq.ft, reflecting an 8% increase.

Overall, from 2003 to 2024, the guideline value has increased by 344%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making Ramaswamy Cross Street's 2024 figure below that median.

• Ramaswamy Street: Rs 3,520 per sq.ft (2024)
• Ranganathan Street: Rs 4,400 per sq.ft (2024)
• Rangaswamy Street: Rs 3,300 per sq.ft (2024)
• Ravi Street: Rs 2,160 per sq.ft (2024)
• Rayapettai Odai 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswamy Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramaswamy Cross Street?

The Sub Registrar Office that covers Ramaswamy Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which is essential for legal and financial purposes. It is advisable to check the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Ramaswamy Cross Street?

The current guideline value of Ramaswamy Cross Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 486 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, marking an overall increase of 344% over the years.

What is the land classification for Ramaswamy Cross Street?

Ramaswamy Cross Street is classified as Residential Class III Type - I, which indicates its suitability for residential development.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,94,400.

Which office handles registrations for Ramaswamy Cross Street?

The Pallavaram Sub Registrar Office handles registrations for Ramaswamy Cross Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.