Guideline Value for Banumathi Ramakrishna Street

Banumathi Ramakrishna Street guideline value

The current guideline value of Banumathi Ramakrishna Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Banumathi Ramakrishna Street has changed

The guideline value for Banumathi Ramakrishna Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 781 per sq.ft. This increased significantly to Rs 853 per sq.ft in 2003, marking a 9% rise. The value continued to rise dramatically, reaching Rs 4,902 per sq.ft in 2007, which is a 475% increase from the 2002 figure. In 2012, the value adjusted to Rs 6,000 per sq.ft, reflecting a decrease of 33% from the previous revision.

In 2017, the guideline value rose to Rs 4,020 per sq.ft, followed by a substantial increase to Rs 6,000 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, an increase of 10% from 2023. There are no figures available for the years not mentioned in this register for Banumathi Ramakrishna Street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this village is Rs 4,400 per sq.ft, placing Banumathi Ramakrishna Street's 2024 figure above this median.

• Bangaru Street: Rs 6,600 per sq.ft (2024)
• Barani Colony - Arcot Road: Rs 6,600 per sq.ft (2024)
• Barani Colony - Kannammal Street: Rs 6,600 per sq.ft (2024)
• Barani Colony - Surya street: Rs 6,600 per sq.ft (2024)
• Barani Colony - Thiivakar Street: Rs 6,600 per sq.ft (2024)
• Baskar Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Banumathi Ramakrishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Banumathi Ramakrishna Street?

The Sub Registrar Office that covers Banumathi Ramakrishna Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price.

Additionally, the guideline value ensures transparency in property transactions, as it provides a standardized value for properties in different areas. This helps in reducing disputes over property valuations during the registration process.

Frequently asked questions

What is the current guideline value of Banumathi Ramakrishna Street?

The current guideline value of Banumathi Ramakrishna Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 781 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 745% over the years.

What is the land classification for Banumathi Ramakrishna Street?

Banumathi Ramakrishna Street is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Banumathi Ramakrishna Street?

The Sub Registrar Office for Banumathi Ramakrishna Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Banumathi Ramakrishna Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 66,00,000, the stamp duty at 7% would be Rs 4,62,000.