Guideline Value for TEACHER RAMACHANDRAN NAGAR 3RD STREET

Teacher Ramachandran Nagar 3rd Street guideline value

The current guideline value of Teacher Ramachandran Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Teacher Ramachandran Nagar 3rd Street has changed

The guideline value for Teacher Ramachandran Nagar 3rd Street has seen significant changes over the years. In 2002, the guideline value was Rs 776 per sq.ft, which increased to Rs 893 per sq.ft in 2003. Following this, the value rose to Rs 1,300 per sq.ft in 2007, marking an increase of 46%. By 2012, the value reached Rs 4,000 per sq.ft, reflecting a substantial increase of 208% from the previous revision. However, there was a decrease to Rs 2,680 per sq.ft in 2017, which was a decline of 33%.

From 2017 to 2023, the guideline value saw a notable increase of 49%, reaching Rs 4,000 per sq.ft. The most recent revision in 2024 has set the value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. The overall change from 2002 to 2024 shows an increase of 467% in the guideline value for this street.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Teacher Ramachandran Nagar 3rd Street's 2024 figure above that median.

• Teacher Ramachandran Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Teacher Ramachandran Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Subramaniyasamy Koil Street: Rs 4,950 per sq.ft (2024)
• Subramania Mudali Street: Rs 4,400 per sq.ft (2024)
• Vaniyar Street: Rs 2,750 per sq.ft (2024)
• Venugopal Chetty Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Teacher Ramachandran Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for duty and registration would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teacher Ramachandran Nagar 3rd Street?

The Sub Registrar Office that covers Teacher Ramachandran Nagar 3rd Street is the Chennai South Joint I 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When buying or selling property, the guideline value is referenced to assess the transaction's legitimacy. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Teacher Ramachandran Nagar 3rd Street?

The current guideline value of Teacher Ramachandran Nagar 3rd Street is Rs 4,400 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 776 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 467% over this period.

What is the median guideline value for streets in Saidapet?

The median guideline value for streets in Saidapet under the Chennai South Joint I SRO is Rs 3,300 per sq.ft, with Teacher Ramachandran Nagar 3rd Street's value above this median.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Teacher Ramachandran Nagar 3rd Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Teacher Ramachandran Nagar 3rd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.