Guideline Value for RAMAKRISHNA MUDALI STREET

Ramakrishna Mudali Street guideline value

The current guideline value of Ramakrishna Mudali 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 Street has changed

The guideline value for Ramakrishna Mudali Street has seen significant changes over the years. In the 2002 revision, the value was Rs 610 per sq.ft, which increased to Rs 461 per sq.ft in 2003, a decrease of 24%. From 2003 to 2007, the value rose by 52% to Rs 700 per sq.ft. The 2012 revision maintained the value at Rs 3,500 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 3,500 per sq.ft. The most recent revision in 2024 saw the value increase by 9% to Rs 3,800 per sq.ft.

Notably, there is no figure available for the year 2017 in the register for this street. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 523%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO, with 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 Street's 2024 figure above this median.

• Ramakrishna Mudali 2nd Street: Rs 3,800 per sq.ft (2024)
• Ramakrishna Mudali 1st 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 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, while the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishna Mudali Street?

The Purasaivakkam Sub Registrar Office covers Ramakrishna Mudali Street. The office is 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 critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the correct fees are collected based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ramakrishna Mudali Street?

The current guideline value of Ramakrishna Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly, from Rs 610 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 523% over this period.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registration for Ramakrishna Mudali Street?

The Purasaivakkam Sub Registrar Office handles property registration for Ramakrishna Mudali Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Perambur?

The median guideline value in Perambur village is Rs 2,700 per sq.ft, which is lower than the current guideline value of Rs 3,800 per sq.ft for Ramakrishna Mudali Street.