Guideline Value for SRI RAMAPURAM 1ST STREET

Sri Ramapuram 1st Street guideline value

The current guideline value of Sri Ramapuram 1st Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the jurisdiction of the Kodambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sri Ramapuram 1st Street has changed

The guideline value for Sri Ramapuram 1st Street has seen several revisions over the years. In 2002, the value was Rs 750 per sq.ft, which increased to Rs 824 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 1,200 per sq.ft, reflecting a significant increase of 46%. The value remained at Rs 1,200 per sq.ft until 2012, when it was revised to Rs 4,600 per sq.ft, an increase of 283%. The value stayed the same through 2023 at Rs 4,600 per sq.ft, before reaching the current rate of Rs 5,000 per sq.ft in 2024, which is a 9% increase.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 567%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, making the current value of Sri Ramapuram 1st Street below this median.

• Sri Ramapuram 1st Lane: Rs 5,000 per sq.ft (2024)
• Sri Ramapuram 2nd Lane: Rs 5,000 per sq.ft (2024)
• Sri Ramapuram 2nd Street: Rs 5,000 per sq.ft (2024)
• Station View Road: Rs 8,800 per sq.ft (2024)
• Subbarao Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Subbarayan Nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Ramapuram 1st Street?

The Sub Registrar Office that covers Sri Ramapuram 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial figure used during the registration of property transactions in Puliyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps to establish a fair price for the transaction. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Ramapuram 1st Street?

The current guideline value of Sri Ramapuram 1st Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 750 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 567% over this period.

What is the land classification of Sri Ramapuram 1st Street?

Sri Ramapuram 1st Street is classified as Residential Class III Type - I.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Sri Ramapuram 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 at a rate of 7%.