Guideline Value for SWAMY RAMADASAR STREET

Swamy Ramadasar Street guideline value

The current guideline value of Swamy Ramadasar Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO, with a land classification of Residential Class II Type - III.

How the guideline value of Swamy Ramadasar Street has changed

The guideline value for Swamy Ramadasar Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 600 per sq.ft. In 2017, this value decreased to Rs 402 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, followed by a further increase to Rs 660 per sq.ft in 2024, which is a rise of 10% from the previous year.

There are no recorded figures for the revisions in 2002, 2003, and 2007 for Swamy Ramadasar Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Swamy Ramadasar Street's 2024 figure below that median.

• Swamy Natesanar Madam Street: Rs 660 per sq.ft (2024)
• Sri Vari Avenue: Rs 1,650 per sq.ft (2024)
• Sri Subharam Avenue: Rs 1,105 per sq.ft (2024)
• Sri Subbaaraam Avenue: Rs 1,105 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 660 per sq.ft (2024)
• Thirumalai Balaji Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Swamy Ramadasar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swamy Ramadasar Street?

The Sub Registrar Office that covers Swamy Ramadasar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Koladi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Swamy Ramadasar Street?

The current guideline value of Swamy Ramadasar Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which Sub Registrar Office covers Swamy Ramadasar Street?

The Chennai South Joint II Sub Registrar Office covers Swamy Ramadasar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How does the guideline value affect property transactions?

The guideline value is used as a benchmark for registering property transactions, determining the minimum registration value and the applicable stamp duty and registration fees.