Guideline Value for RAMAKRISHNA NAGAR - V.V.Giri Street

RAMAKRISHNA NAGAR - V.V.Giri Street guideline value

The current guideline value of RAMAKRISHNA NAGAR - V.V.Giri Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class I Type - II.

How the guideline value of RAMAKRISHNA NAGAR - V.V.Giri Street has changed

Starting from the 2002 revision, the guideline value was Rs 572 per sq.ft. It increased to Rs 622 per sq.ft in 2003, marking a change of +9%. The value then rose to Rs 750 per sq.ft in 2007, which was a +21% increase. In 2012, the guideline value jumped significantly to Rs 4,000 per sq.ft, reflecting a substantial increase of +433% from the previous revision.

As of the 2024 revision, the guideline value stands at Rs 4,400 per sq.ft, which is a +10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by +669%. The register has no figures for the years 2017 and 2023 for this street.

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 in this area is Rs 3,850 per sq.ft, placing RAMAKRISHNA NAGAR - V.V.Giri Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in RAMAKRISHNA NAGAR - V.V.Giri 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RAMAKRISHNA NAGAR - V.V.Giri Street?

The Sub Registrar Office that covers RAMAKRISHNA NAGAR - V.V.Giri 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

When buying or selling property in Valasaravakkam, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This value is established by the local government and is essential for ensuring that the correct taxes are collected during the property registration process.

It is crucial for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. The guideline value serves as a benchmark for property transactions, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of RAMAKRISHNA NAGAR - V.V.Giri Street?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 572 per sq.ft to Rs 4,400 per sq.ft in 2024, representing an overall increase of +669%.

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

For a property valued at Rs 44,00,000, the total stamp duty and registration fees would amount to Rs 3,96,000, which includes a 7% stamp duty and a 2% registration fee.

Which Sub Registrar Office covers this street?

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

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the correct taxes are collected and maintains transparency in the registration process.