Guideline Value for RAMAKRISHNA MUDALI 2ND STREET

Ramakrishna Mudali 2nd Street guideline value

The current guideline value of Ramakrishna Mudali 2nd 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 2nd Street has changed

The guideline value for Ramakrishna Mudali 2nd Street has seen several revisions over the years. In 2003, the guideline value was Rs 461 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007. The value then jumped to Rs 3,500 per sq.ft in 2012, remaining unchanged until 2023, when it was revised to Rs 3,500 per sq.ft again. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

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

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Ramakrishna Mudali 2nd Street's 2024 figure above this median.

• Ramakrishna Mudali 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramakrishna Mudali 2nd Street?

The Sub Registrar Office covering Ramakrishna Mudali 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is officially recognized by the authorities.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ramakrishna Mudali 2nd Street?

The current guideline value of Ramakrishna Mudali 2nd 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 from Rs 461 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 724% over this period.

What is the land classification for Ramakrishna Mudali 2nd Street?

Ramakrishna Mudali 2nd Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Ramakrishna Mudali 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Ramakrishna Mudali 2nd Street?

Stamp duty for properties in Ramakrishna Mudali 2nd Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.