Guideline Value for Ramaswamy Thottam

Ramaswamy Thottam guideline value

The current guideline value of Ramaswamy Thottam is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO, classified as Residential Class IV Type - I.

How the guideline value of Ramaswamy Thottam has changed

The guideline value for Ramaswamy Thottam has seen several revisions over the years. The earliest recorded figure is Rs 532 per sq.ft in 2002, which increased to Rs 630 per sq.ft in 2003, marking an increase of 18%. Following this, the value surged significantly to Rs 2,500 per sq.ft in 2007, reflecting a rise of 297%. In 2012, the value was recorded at Rs 5,000 per sq.ft, indicating a decrease of 33% from the previous revision.

From 2012, the guideline value increased to Rs 3,350 per sq.ft in 2017, which was a notable rise of 49%. The most recent revision in 2023 set the value at Rs 5,000 per sq.ft, before reaching the current value of Rs 5,500 per sq.ft in 2024, an increase of 10% from the previous year. The overall change from 2002 to 2024 is an increase of 934%.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, placing Ramaswamy Thottam's current value below this median.

• Ramaswamy Avenue: Rs 6,100 per sq.ft (2024)
• R.S.Compound: Rs 6,600 per sq.ft (2024)
• Sashthri Nagar 10th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 11th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 12th Cross Street: Rs 7,700 per sq.ft (2024)
• Sashthri Nagar 13th Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramaswamy Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramaswamy Thottam?

The Sub Registrar Office that covers Ramaswamy Thottam is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Urur. When a property is bought or sold, the guideline value is the basis for calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of the transaction. The registration office will refer to the guideline value register to determine the applicable fees during the registration process.

Frequently asked questions

What is the current guideline value of Ramaswamy Thottam?

The current guideline value of Ramaswamy Thottam is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 532 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking a significant overall increase of 934%.

What is the land classification of Ramaswamy Thottam?

Ramaswamy Thottam is classified as Residential Class IV Type - I, indicating its use for residential purposes.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated in Ramaswamy Thottam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.