Guideline Value for RAMAKRISHNA MUDALI 1ST STREET

Ramakrishna Mudali 1st Street guideline value

The current guideline value of Ramakrishna Mudali 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Ramakrishna Mudali 1st Street has changed

The guideline value for Ramakrishna Mudali 1st Street has seen significant changes over the years. In 2003, the guideline value was Rs 461 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a 52% rise. The value then surged dramatically to Rs 3,500 per sq.ft in 2012, reflecting a 400% increase from the previous revision. The value remained unchanged at Rs 3,500 per sq.ft until the 2023 revision, where it was adjusted to Rs 3,800 per sq.ft, representing a 9% increase.

There are no figures available for the years 2002 and 2017 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 724%.

Guideline values in Perambur

In Perambur, the guideline values for 2024 range from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Ramakrishna Mudali 1st Street is above this median, indicating its relative position within the area.

• Ramakrishna Mudali 2nd Street: Rs 3,800 per sq.ft (2024)
• Ramakrishna Mudali Street: Rs 3,800 per sq.ft (2024)
• Rajiv Gandhi Nagar Hut Area: Rs 2,200 per sq.ft (2024)
• Ramana Nagar: Rs 3,800 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 3,200 per sq.ft (2024)
• Rajeswari Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Mudali 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishna Mudali 1st Street?

The Sub Registrar Office that covers Ramakrishna Mudali 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Perambur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ramakrishna Mudali 1st Street?

The current guideline value of Ramakrishna Mudali 1st Street is Rs 3,800 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 461 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 724% over the years.

What are the other streets in Perambur with similar guideline values?

Other streets in Perambur with similar guideline values include Ramakrishna Mudali 2nd Street and Ramakrishna Mudali Street, both at Rs 3,800 per sq.ft in 2024.

What is the stamp duty rate for properties in Ramakrishna Mudali 1st Street?

The stamp duty rate for properties in Ramakrishna Mudali 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramakrishna Mudali 1st Street?

The Sub Registrar Office for Ramakrishna Mudali 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.