Guideline Value for Ramaswamy Street

Ramaswamy Street guideline value

The current guideline value of Ramaswamy Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ramaswamy Street has changed

The guideline value for Ramaswamy Street has seen several revisions over the years. In 2003, the guideline value was Rs 486 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a significant increase of 65%. This was followed by a dramatic rise to Rs 3,200 per sq.ft in 2012, representing a 300% increase. The value remained unchanged at Rs 3,200 per sq.ft until the 2023 revision, which raised it to Rs 3,520 per sq.ft, reflecting a 10% increase.

It is also important to note that there are no figures available for the revisions in 2002 and 2017 for Ramaswamy Street. Overall, from 2003 to 2024, the guideline value has increased by 624%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Ramaswamy Street's 2024 figure above that median.

• Ramaswamy Cross Street: Rs 2,160 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable charges. Buyers should be aware that the stamp duty is levied on the higher of the guideline value or the sale price, ensuring 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 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 486 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 624% over the years.

What is the registration office for Ramaswamy Street?

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

How is stamp duty calculated for properties in Ramaswamy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400.

What are the other streets in Zaminpallavaram?

Other streets in Zaminpallavaram include Ramaswamy Cross Street, Ranganathan Street, Rangaswamy Street, Ravi Street, and Rayapettai Odai 1st and 2nd Cross Streets, each with their respective guideline values for 2024.