Guideline Value

Corporate

Guideline Value for Ramaswamy Street

₹3850/sq.ft.

The guideline value for Ramaswamy Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ramaswamy Street

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Ramaswamy Street guideline value

The current guideline value of Ramaswamy Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramaswamy Street has changed

The guideline value for Ramaswamy Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017, a significant drop of 33%. However, the guideline value rose to Rs 3,500 per sq.ft again in the 2023 revision, and then increased by 10% to reach the current value of Rs 3,850 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the current guideline value of Ramaswamy Street.

Stamp duty and registration fee for property in Ramaswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and compliance with legal requirements.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Ramaswamy Street?

The current guideline value of Ramaswamy Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 in 2012 to Rs 2,345 in 2017, then back to Rs 3,500 in 2023, and finally to Rs 3,850 in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What are the stamp duty and registration fees for properties in Ramaswamy Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500 in fees.

Which Sub Registrar Office is responsible for Ramaswamy Street?

The Virugambakkam Sub Registrar Office is responsible for Ramaswamy Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

Are there other streets in Valasaravakkam with the same guideline value?

Yes, several other streets in Valasaravakkam have the same guideline value of Rs 3,850 per sq.ft in 2024, including Ramesh Nagar and its various extensions.