Guideline Value for Ramesh Garden

Ramesh Garden guideline value

The current guideline value of Ramesh Garden is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Salamangalam village, under the Sriperumpudur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Ramesh Garden has changed

The guideline value for Ramesh Garden has seen several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This remained unchanged until the 2017 revision, which lowered the value to Rs 268 per sq.ft, marking a decrease of 33%. However, the value increased significantly in the following revisions, reaching Rs 400 per sq.ft again in both the 2023 and 2024 revisions, reflecting a 49% increase from the 2017 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 400 per sq.ft, showing no change during this period.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 3,100 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Ramesh Garden's 2024 figure below that median.

• Ramakrishna Nagar: Rs 300 per sq.ft (2024)
• Sai Krithika Garden: Rs 469 per sq.ft (2024)
• Sakthi Nagar: Rs 400 per sq.ft (2024)
• Pranav Orchid: Rs 600 per sq.ft (2024)
• Saravanan Nagar: Rs 300 per sq.ft (2024)
• Padmavathy Nagar (Padmavathy Avenue): Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramesh Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramesh Garden?

The Sub Registrar Office that covers Ramesh Garden is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration regulations.

Frequently asked questions

What is the current guideline value of Ramesh Garden?

The current guideline value of Ramesh Garden is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft in the 2023 and 2024 revisions, while it was Rs 268 per sq.ft in the 2017 revision. The value was Rs 400 per sq.ft in the 2012 revision, showing a significant increase from 2017 to 2023.

What is the land classification for Ramesh Garden?

Ramesh Garden is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Ramesh Garden?

The stamp duty for properties in Ramesh Garden is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramesh Garden?

The Sub Registrar Office for Ramesh Garden is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.