Guideline Value for Ramaswamy Kuttai Street

Ramaswamy Kuttai Street guideline value

The current guideline value of Ramaswamy Kuttai Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Ramaswamy Kuttai Street has changed

The guideline value for Ramaswamy Kuttai Street has seen several revisions over the years. In 2003, the value was Rs 164 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. Following that, it rose dramatically to Rs 2,000 per sq.ft in 2012, but then decreased to Rs 1,340 per sq.ft in 2017. The value increased again to Rs 2,000 per sq.ft in 2023 before reaching its current value of Rs 2,200 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. Notably, the increase from 2003 to 2024 overall is a remarkable 1241%. The register has no figure for this street for the year 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Ramaswamy Kuttai Street's 2024 figure is below this median.

• Ranganathan Street: Rs 4,400 per sq.ft (2024)
• Railway Station Road: Rs 4,950 per sq.ft (2024)
• Railway Station Cross Street: Rs 4,950 per sq.ft (2024)
• Railway Colony: Rs 3,300 per sq.ft (2024)
• Purusothaman Street: Rs 3,300 per sq.ft (2024)
• Pudu Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswamy Kuttai 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, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramaswamy Kuttai Street?

The Sub Registrar Office that covers Ramaswamy Kuttai 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 Issa Pallavaram

The guideline value is a crucial factor in the registration of property transactions in Issa Pallavaram. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial obligations associated with property transactions. Understanding these values can help facilitate smoother transactions and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramaswamy Kuttai Street?

The current guideline value of Ramaswamy Kuttai 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 changed from Rs 164 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1241%.

What is the land classification for Ramaswamy Kuttai Street?

Ramaswamy Kuttai Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Ramaswamy Kuttai Street?

The Sub Registrar Office for Ramaswamy Kuttai Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.