Guideline Value for Ramu Street

Ramu Street guideline value

The current guideline value of Ramu Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Ramu Street has changed

The guideline value for Ramu Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,500 per sq.ft, which is unchanged from the 2023 revision. Prior to that, in 2017, the guideline value was Rs 1,005 per sq.ft, indicating a significant increase of 49% from 2017 to 2023, and an overall increase of 49% from 2017 to 2024.

There are no figures available in the register for the years 2002, 2003, 2007, and 2012 for Ramu Street. Therefore, the only revisions that have been recorded are from 2017, 2023, and the current 2024 value.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, which matches the guideline value of Ramu Street.

• Ramdoss Street: Rs 1,100 per sq.ft (2024)
• Raj Nagar: Rs 1,500 per sq.ft (2024)
• R.V. Nagar: Rs 1,500 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Rajaji Street: Rs 2,001 per sq.ft (2024)
• Railwaystation Road: Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Ramu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total fees Rs 1,35,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ramu Street?

The Sub Registrar Office that covers Ramu Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gooduvancheri. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the guideline value serves as a benchmark to ensure that the sale price is in line with the prevailing market conditions. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Ramu Street?

The current guideline value of Ramu Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ramu Street has remained at Rs 1,500 per sq.ft from 2023 to 2024. It increased from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, marking a 49% increase over that period.

Where can I find the registration office for Ramu Street?

The registration office for Ramu Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What are the stamp duty rates for property transactions in Gooduvancheri?

The stamp duty for property transactions in Gooduvancheri is charged at a rate of 7% on the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

What is the land classification of Ramu Street?

Ramu Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.