Guideline Value for RAMAKRISHNA MAIN ROAD

Ramakrishna Main Road guideline value

The current guideline value of Ramakrishna Main Road is Rs 11,500 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Ramakrishna Main Road has changed

In the 2012 revision, the guideline value was Rs 10,500 per sq.ft. This figure remained unchanged through the 2023 revision, which also recorded Rs 10,500 per sq.ft. However, in the 2024 revision, the guideline value increased by 10% to Rs 11,500 per sq.ft.

The revisions for the years 2002, 2003, 2007, and 2017 have no figures listed for Ramakrishna Main Road in the register. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ramakrishna Main Road's 2024 figure above that median.

• RAMAKRISHNA MUTT ROAD (Luz Church Road to Venkatesa Agraharam): Rs 15,400 per sq.ft (2024)
• RAMAKRISHNA MUTT ROAD (Venkatesa Iyar Road to Greenways Road): Rs 14,300 per sq.ft (2024)
• RAMAKRISHNA MUTT ROAD (Ventesa Agaharam to Venkata Krishan Iyer Road): Rs 15,400 per sq.ft (2024)
• Ramakrishna Nagar: Rs 11,500 per sq.ft (2024)
• Ramakrishna Nagar 1st Cross Street: Rs 11,500 per sq.ft (2024)
• Ramakrishna Nagar 1st Main Road: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, making the total Rs 10,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishna Main Road?

The Sub Registrar Office that covers Ramakrishna Main Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, visit find your SRO.

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

The guideline value is an essential factor in property transactions in Mylapore, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

It is important for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs associated with property transactions. Accurate knowledge of the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ramakrishna Main Road?

The current guideline value of Ramakrishna Main Road is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,500 per sq.ft in 2012 to Rs 10,500 per sq.ft in 2023, and then increased to Rs 11,500 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification for Ramakrishna Main Road?

The land classification for Ramakrishna Main Road is Residential Class II Type - III, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Ramakrishna Main Road?

The Sub Registrar Office for Ramakrishna Main Road is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the stamp duty calculated for properties on Ramakrishna Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 at a rate of 7%.