Guideline Value for Ramaswamy Street (Vetri Nagar Extension)

Ramaswamy Street (Vetri Nagar Extension) guideline value

The current guideline value for Ramaswamy Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

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

The guideline value for Ramaswamy Street (Vetri Nagar Extension) has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft by 2012. However, this value dropped to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent revision in 2024 saw it rise to Rs 3,301 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 372%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, which is the same as the current guideline value for Ramaswamy Street (Vetri Nagar Extension).

• Ram Nagar 1st Cross Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 1st Cross Street (Arround Park): Rs 4,200 per sq.ft (2024)
• Ram Nagar 1st Main Road: Rs 4,200 per sq.ft (2024)
• Ram Nagar 1st Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 2nd Cross Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 2nd Cross Street (Arround Park): Rs 4,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramaswamy Street (Vetri Nagar Extension)?

Ramaswamy Street (Vetri Nagar Extension) falls under the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Peravallur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is important to be aware that the guideline value is subject to periodic revisions, which can affect the overall cost of property transactions. Buyers and sellers should stay informed about these changes to ensure compliance with the registration requirements.

Frequently asked questions

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

The current guideline value for Ramaswamy Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, marking an overall increase of 372% over the years.

What is the stamp duty for property transactions in Ramaswamy Street (Vetri Nagar Extension)?

The stamp duty for property transactions in Ramaswamy Street (Vetri Nagar Extension) is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Ramaswamy Street (Vetri Nagar Extension)?

Ramaswamy Street (Vetri Nagar Extension) is classified as Residential Special Type - II.