Guideline Value for P.E.RAMAKRISHNAN GARDEN

P.E.Ramakrishnan Garden guideline value

The current guideline value of P.E.Ramakrishnan Garden is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of P.E.Ramakrishnan Garden has changed

The guideline value for P.E.Ramakrishnan Garden has seen several revisions over the years. The 2012 revision recorded a value of Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, making the guideline value of P.E.Ramakrishnan Garden above that median.

• Periyakenikulam Road: Rs 1,100 per sq.ft (2024)
• PERIYAPALAYATHAMMAN KOIL 1st STREET: Rs 1,100 per sq.ft (2024)
• Periyapalayathamman Koil Street: Rs 1,100 per sq.ft (2024)
• Periyar Street: Rs 1,100 per sq.ft (2024)
• Perumal Street: Rs 1,700 per sq.ft (2024)
• P.E.Shankar Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in P.E.Ramakrishnan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers P.E.Ramakrishnan Garden?

The P.E.Ramakrishnan Garden is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Karapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with property transactions. It is important for both parties to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of P.E.Ramakrishnan Garden?

The current guideline value of P.E.Ramakrishnan Garden is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of P.E.Ramakrishnan Garden?

P.E.Ramakrishnan Garden is classified as Residential Class II Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in P.E.Ramakrishnan Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.