Guideline Value for Seenivasan Street (Ramapuram)

Seenivasan Street (Ramapuram) guideline value

The current guideline value of Seenivasan Street (Ramapuram) is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Seenivasan Street (Ramapuram) has changed

Seenivasan Street (Ramapuram) has seen several revisions in its guideline value over the years. The 2012 revision set the guideline value at Rs 3,300 per sq.ft, which was then decreased to Rs 2,211 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,300 per sq.ft, and the latest 2024 revision raised it further to Rs 3,600 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for Seenivasan Street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value is Rs 3,600 per sq.ft, which matches the current value of Seenivasan Street (Ramapuram).

• Sekaran Street: Rs 4,600 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 3,600 per sq.ft (2024)
• Sathyapuram Main Street: Rs 1,600 per sq.ft (2024)
• Sathyapuram 2nd Street: Rs 1,600 per sq.ft (2024)
• Sathyapuram 1st Street: Rs 1,600 per sq.ft (2024)
• Sathyanarayana Street: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Seenivasan Street (Ramapuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, while the registration fee at 2% would be Rs 72,000, bringing the total to Rs 3,24,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Seenivasan Street (Ramapuram)?

The Sub Registrar Office that covers Seenivasan Street (Ramapuram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ambattur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the taxes are calculated based on a standard valuation established by the government.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property. However, the stamp duty is charged on the higher of the two values, ensuring that the government receives the appropriate tax revenue from property transactions.

Frequently asked questions

What is the current guideline value of Seenivasan Street (Ramapuram)?

The current guideline value of Seenivasan Street (Ramapuram) is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2023 to Rs 3,600 per sq.ft in 2024, representing a 9% increase. It decreased from Rs 3,300 in 2012 to Rs 2,211 in 2017, and then increased to Rs 3,300 in 2023.

What is the land classification of Seenivasan Street (Ramapuram)?

Seenivasan Street (Ramapuram) is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Seenivasan Street (Ramapuram)?

The Sub Registrar Office for Seenivasan Street (Ramapuram) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions in Ambattur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 36,00,000 would incur a stamp duty of Rs 2,52,000 at 7%.