Guideline Value for Ramaswamy Street (Dikshither Nagar)

Ramaswamy Street (Dikshither Nagar) guideline value

The current guideline value of Ramaswamy Street (Dikshither Nagar) is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ramaswamy Street (Dikshither Nagar) has changed

The guideline value for Ramaswamy Street (Dikshither Nagar) has seen several revisions over the years. The earliest available figure is from 2007, where the value was Rs 525 per sq.ft. This increased to Rs 1,500 per sq.ft in 2012, marking a significant rise of 186%. However, it then decreased to Rs 1,005 per sq.ft in the 2017 revision, reflecting a drop of 33%. The value increased again to Rs 1,500 per sq.ft in 2023, and has now risen to Rs 1,650 per sq.ft in the 2024 revision, which is an increase of 10% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 revision, there has been a substantial increase of 214% in the guideline value. The 2017 to 2023 period saw a rise of 49%, demonstrating a consistent upward trend in the guideline value over the last few revisions.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. Ramaswamy Street (Dikshither Nagar) is below this median value.

• Rambakthi Nagar: Rs 2,970 per sq.ft (2024)
• Ram Pakshi Nagar: Rs 2,970 per sq.ft (2024)
• Ramanujam Street: Rs 2,970 per sq.ft (2024)
• Raman Street: Rs 2,970 per sq.ft (2024)
• Ranganathan Cross Street: Rs 2,970 per sq.ft (2024)
• Raman 1st Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswamy Street (Dikshither Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramaswamy Street (Dikshither Nagar)?

The Sub Registrar Office that covers Ramaswamy Street (Dikshither Nagar) 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 Hastinapuram

The guideline value plays a crucial role in property transactions in Hastinapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider this value when negotiating the sale price of a property.

When a property is sold, the registration process requires the payment of stamp duty based on the guideline value or the agreed sale price, whichever is higher. This ensures that all property transactions are conducted transparently and fairly, adhering to the regulations set by the government.

Frequently asked questions

What is the current guideline value of Ramaswamy Street (Dikshither Nagar)?

The current guideline value of Ramaswamy Street (Dikshither Nagar) is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 525 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024. This reflects an overall increase of 214% over the years.

What is the stamp duty rate for properties in Ramaswamy Street (Dikshither Nagar)?

The stamp duty rate for properties in Ramaswamy Street (Dikshither Nagar) is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Ramaswamy Street (Dikshither Nagar)?

The Pallavaram Sub Registrar Office handles property registrations for Ramaswamy Street (Dikshither Nagar), located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it sets the minimum price for property registration, ensuring that the government receives due revenue through stamp duty and registration fees. It is an essential factor in determining the sale price during property transactions.