Guideline Value for RAMAKRISHNA NAGAR - Play Ground Street

RAMAKRISHNA NAGAR - Play Ground Street guideline value

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

How the guideline value of RAMAKRISHNA NAGAR - Play Ground Street has changed

The guideline value for RAMAKRISHNA NAGAR - Play Ground Street has seen significant changes over the years. In 2002, the guideline value was Rs 572 per sq.ft. This increased to Rs 622 per sq.ft in 2003, marking a 9% rise. By 2007, the value surged to Rs 750 per sq.ft, reflecting a 21% increase. The most substantial jump occurred in 2012, where the value reached Rs 4,000 per sq.ft, a 433% increase from 2007. The guideline value remained unchanged at Rs 4,000 per sq.ft until 2023.

In 2023, the value was revised to Rs 4,000 per sq.ft, and then it increased by 10% to Rs 4,400 per sq.ft in 2024. Notably, there is no figure available for the year 2017 in the register for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, positioning RAMAKRISHNA NAGAR - Play Ground Street above this median.

• RAMAKRISHNA NAGAR - Radhakrishnan Salai: Rs 5,550 per sq.ft (2024)
• RAMAKRISHNA NAGAR - Patel Street: Rs 4,400 per sq.ft (2024)
• RAMAKRISHNA NAGAR - Rajaji Street: Rs 4,400 per sq.ft (2024)
• RAMAKRISHNA NAGAR - Park Street: Rs 4,400 per sq.ft (2024)
• RAMAKRISHNA NAGAR - Ramanujam Street: Rs 4,400 per sq.ft (2024)
• RAMAKRISHNA NAGAR - Tagore Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in RAMAKRISHNA NAGAR - Play Ground 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 to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers RAMAKRISHNA NAGAR - Play Ground Street?

The RAMAKRISHNA NAGAR - Play Ground Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Valasaravakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Both the buyer and seller must be aware of the guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees. It is essential for buyers to understand that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for RAMAKRISHNA NAGAR - Play Ground Street?

The current guideline value for RAMAKRISHNA NAGAR - Play Ground 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 increased significantly from Rs 572 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 669% over the years.

What are the stamp duty and registration fees for this street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers RAMAKRISHNA NAGAR - Play Ground Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for RAMAKRISHNA NAGAR - Play Ground Street?

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