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Guideline Value

Corporate

Guideline Value for RAMAKRISHNA NAGAR - Park Street

₹4400/sq.ft.

The guideline value for Ramakrishna Nagar - Park Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹622 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹572 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ramakrishna Nagar - Park Street

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RAMAKRISHNA NAGAR - Park Street guideline value

The current guideline value of RAMAKRISHNA NAGAR - Park Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of RAMAKRISHNA NAGAR - Park Street has changed

The guideline value for RAMAKRISHNA NAGAR - Park Street has seen several revisions over the years. In 2002, the guideline value was Rs 572 per sq.ft, which increased to Rs 622 per sq.ft in 2003, marking a change of +9%. The value rose to Rs 750 per sq.ft in 2007, a significant increase of +21%. By 2012, the value reached Rs 4,000 per sq.ft, reflecting a remarkable increase of +433% from 2007. The value remained unchanged at Rs 4,000 per sq.ft until the next revision in 2023.

In 2023, the guideline value was set at Rs 4,000 per sq.ft, and it increased to Rs 4,400 per sq.ft in 2024, which is a change of +10%. The register has no figure for this street in 2017. Overall, from 2002 to 2024, the guideline value has increased by +669%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, indicating that RAMAKRISHNA NAGAR - Park Street's 2024 figure of Rs 4,400 per sq.ft is above that median.

Stamp duty and registration fee for property in RAMAKRISHNA NAGAR - Park Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RAMAKRISHNA NAGAR - Park Street?

The Sub Registrar Office that covers RAMAKRISHNA NAGAR - Park Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Valasaravakkam, the guideline value is used to determine the stamp duty and registration fees. This value is set by the Registration Department and is updated periodically to reflect changes in the market.

At the time of registration, the guideline value is compared to the sale price of the property, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of RAMAKRISHNA NAGAR - Park Street?

The current guideline value of RAMAKRISHNA NAGAR - Park Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, which is a +10% change.

What is the land classification for RAMAKRISHNA NAGAR - Park Street?

The land classification for RAMAKRISHNA NAGAR - Park Street is Residential Class I Type - II.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in RAMAKRISHNA NAGAR - Park Street is charged at 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for RAMAKRISHNA NAGAR - Park Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.