Guideline Value for Ramesh Nagar 4th Street

Ramesh Nagar 4th Street guideline value

The current guideline value of Ramesh Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ramesh Nagar 4th Street has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure remained the same in the 2012 and 2017 revisions, where it dropped to Rs 2,345 per sq.ft. The 2023 revision saw a significant increase to Rs 3,500 per sq.ft, followed by a further increase to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The change from 2017 to 2023 was a notable 49%, while the decrease from 2012 to 2017 was 33%. 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 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is the same as the 2024 figure for Ramesh Nagar 4th Street.

• Ramesh Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Ramesh Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Ramesh Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Ramesh Nagar: Rs 3,850 per sq.ft (2024)
• Ramaswamy Street: Rs 3,850 per sq.ft (2024)
• Ramar Street 6th Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramesh Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be 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. 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 detailed calculations.

Which Sub Registrar Office covers Ramesh Nagar 4th Street?

The Ramesh Nagar 4th Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is essential when registering a property in Valasaravakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees during the transaction.

When buying or selling property, it's crucial to be aware of the guideline value, as it ensures compliance with local regulations and helps in determining the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Ramesh Nagar 4th Street?

The current guideline value of Ramesh Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 3,500 to Rs 3,850 in 2024, with notable increases in 2023 and 2017 revisions.

What is the land classification for Ramesh Nagar 4th Street?

The land classification for Ramesh Nagar 4th Street is Residential Class II Type - I.

Where can I find the registration office for Ramesh Nagar 4th Street?

The registration office for Ramesh Nagar 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Ramesh Nagar 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,69,500 at the current guideline value.