Guideline Value for Ramdoss Street (Lakshmipuram)

Ramdoss Street (Lakshmipuram) guideline value

The current guideline value of Ramdoss Street (Lakshmipuram) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramdoss Street (Lakshmipuram) has changed

In the 2012 revision, the guideline value for Ramdoss Street (Lakshmipuram) was set at Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Ramdoss Street (Lakshmipuram) aligns with this median.

• Ramanujam Nagar: Rs 1,300 per sq.ft (2024)
• Raman Nagar, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Raman Nagar: Rs 2,200 per sq.ft (2024)
• Ramani Nagar ( Ward No.25 ): Rs 1,300 per sq.ft (2024)
• Ramani Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Ramani Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramdoss Street (Lakshmipuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Ramdoss Street (Lakshmipuram)?

The Sub Registrar Office that covers Ramdoss Street (Lakshmipuram) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the sale or purchase of property.

When you register a property, the guideline value will be used to determine the charges, ensuring that the transaction is officially recorded and compliant with local regulations.

Frequently asked questions

What is the current guideline value of Ramdoss Street (Lakshmipuram)?

The current guideline value of Ramdoss Street (Lakshmipuram) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023, and then increased to Rs 1,600 per sq.ft in 2024. This marks a 7% increase from the previous year.

What is the land classification for Ramdoss Street (Lakshmipuram)?

Ramdoss Street (Lakshmipuram) is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ramdoss Street (Lakshmipuram) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.