Guideline Value for RAMAKRISHNA NAGAR - Rajaji Street

RAMAKRISHNA NAGAR - Rajaji Street guideline value

The current guideline value for RAMAKRISHNA NAGAR - Rajaji 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 falls under the Residential Class I Type - II land classification.

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

The guideline value for RAMAKRISHNA NAGAR - Rajaji Street has seen several revisions over the years. Starting from Rs 572 per sq.ft in 2002, it increased to Rs 622 per sq.ft in 2003, marking a 9% rise. In 2007, the value surged to Rs 750 per sq.ft, a 21% increase from the previous year. The most significant jump occurred between 2007 and 2012, where it rose to Rs 4,000 per sq.ft, reflecting a 433% increase. The value remained unchanged at Rs 4,000 per sq.ft from 2012 to 2023.

The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, a 10% increase from Rs 4,000 per sq.ft in 2023. 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 a 2024 guideline value 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 - Rajaji Street above this median.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers RAMAKRISHNA NAGAR - Rajaji Street?

The Sub Registrar Office that covers RAMAKRISHNA NAGAR - Rajaji 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Valasaravakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable for the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. Ensuring that the transaction is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

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

The current guideline value of RAMAKRISHNA NAGAR - Rajaji 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 significantly from Rs 572 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, with various revisions in between, including a notable increase of 433% from 2007 to 2012.

What is the stamp duty for property in RAMAKRISHNA NAGAR - Rajaji Street?

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

Which Sub Registrar Office should I visit for transactions in RAMAKRISHNA NAGAR - Rajaji Street?

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

What is the median guideline value in Valasaravakkam?

The median guideline value in Valasaravakkam is Rs 3,850 per sq.ft, with RAMAKRISHNA NAGAR - Rajaji Street's value being above this median at Rs 4,400 per sq.ft.