Guideline Value for RAMAKRISHNA NAGAR - Radhakrishnan Salai

RAMAKRISHNA NAGAR - Radhakrishnan Salai guideline value

The current guideline value of RAMAKRISHNA NAGAR - Radhakrishnan Salai is Rs 5,550 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Commercial Special Type - II.

How the guideline value of RAMAKRISHNA NAGAR - Radhakrishnan Salai has changed

The guideline value for RAMAKRISHNA NAGAR - Radhakrishnan Salai has seen several revisions over the years. The earliest recorded revision in 2002 set the value at Rs 572 per sq.ft, which increased to Rs 622 per sq.ft in 2003. The value then rose significantly to Rs 1,100 per sq.ft in 2007, followed by a more substantial increase to Rs 5,000 per sq.ft in 2012. However, it dropped to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 5,550 per sq.ft.

In terms of percentage changes, the value increased by 9% from 2002 to 2003, followed by a 77% increase from 2003 to 2007. The value saw a dramatic rise of 355% from 2007 to 2012, but then it decreased by 33% from 2012 to 2017. There was a 49% increase from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 870%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of RAMAKRISHNA NAGAR - Radhakrishnan Salai is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,550 per sq.ft, the total guideline value would be Rs 55,50,000. The stamp duty at 7% would amount to Rs 3,88,500, and the registration fee at 2% would be Rs 1,11,000, bringing the total to Rs 4,99,500. 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 details.

Which Sub Registrar Office covers RAMAKRISHNA NAGAR - Radhakrishnan Salai?

The RAMAKRISHNA NAGAR - Radhakrishnan Salai area 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 further assistance.

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

The guideline value is a crucial figure used during the registration of properties in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are appropriately calculated.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of the registration process.

Frequently asked questions

What is the current guideline value of RAMAKRISHNA NAGAR - Radhakrishnan Salai?

The current guideline value of RAMAKRISHNA NAGAR - Radhakrishnan Salai is Rs 5,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 572 per sq.ft in 2002 to Rs 5,550 per sq.ft in 2024, reflecting an overall increase of 870% over the years.

What is the land classification for RAMAKRISHNA NAGAR - Radhakrishnan Salai?

RAMAKRISHNA NAGAR - Radhakrishnan Salai is classified as Commercial Special Type - II.

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

The Virugambakkam Sub Registrar Office, which covers RAMAKRISHNA NAGAR - Radhakrishnan Salai, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.