Guideline Value for Ramaswamy Street

Ramaswamy Street guideline value

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

How the guideline value of Ramaswamy Street has changed

The guideline value of Ramaswamy Street has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 186 per sq.ft. This increased to Rs 300 per sq.ft in 2007, marking a significant rise of 61%. The value then surged to Rs 2,000 per sq.ft in 2012, an increase of 567%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, followed by an increase to Rs 2,160 per sq.ft in 2024, reflecting an 8% rise.

Overall, from 2003 to 2024, the guideline value has increased by 1061%. The register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village features a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Ramaswamy Street's 2024 value below this median.

• Ramasamy 1st Street: Rs 2,160 per sq.ft (2024)
• Ranga Nagar: Rs 2,200 per sq.ft (2024)
• Ranga Nagar 1 To 3 Streets: Rs 2,200 per sq.ft (2024)
• Ranga Nagar Extn: Rs 2,200 per sq.ft (2024)
• Ranga Nagar Ymca Street: Rs 2,530 per sq.ft (2024)
• Rangaswamy Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200. Together, the total cost for duty and registration would be Rs 1,94,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramaswamy Street?

The Sub Registrar Office that covers Ramaswamy 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 information.

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

The guideline value is an essential factor during the registration process when buying or selling property in Kilkattalai. It determines the stamp duty and registration fees that need to be paid, ensuring that the transaction is in compliance with government regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramaswamy Street?

The current guideline value of Ramaswamy 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 from Rs 186 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting a significant increase of 1061% over this period.

What is the median guideline value for streets in Kilkattalai?

The median guideline value for streets in Kilkattalai is Rs 2,530 per sq.ft, which is higher than the current value of Ramaswamy Street.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200.