Guideline Value for RAMAKRISHNA SALAI

Ramakrishna Salai guideline value

The current guideline value of Ramakrishna Salai is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Mannivakkam village, under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Ramakrishna Salai has changed

The guideline value for Ramakrishna Salai has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,400 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 938 per sq.ft, marking a decrease of 33%. Following this, the value increased significantly to Rs 1,400 per sq.ft in 2023, and then further rose to Rs 1,540 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mannivakkam

Mannivakkam has a total of 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value in this village is Rs 1,215 per sq.ft, placing the 2024 figure for Ramakrishna Salai above this median.

• Ramakrishna Nagar: Rs 1,110 per sq.ft (2024)
• Rajiv Street: Rs 1,100 per sq.ft (2024)
• Ram Nagar: Rs 1,320 per sq.ft (2024)
• Ram Nagar Extn: Rs 1,325 per sq.ft (2024)
• Rajathi Kalaigar Nagar: Rs 1,320 per sq.ft (2024)
• Sai Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, while the registration fee at 2% would be Rs 30,800. Together, the total cost for stamp duty and registration would be Rs 1,38,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishna Salai?

The Sub Registrar Office that covers Ramakrishna Salai is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mannivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, based on the established guideline value for the specific property.

Frequently asked questions

What is the current guideline value of Ramakrishna Salai?

The current guideline value of Ramakrishna Salai is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What is the land classification for Ramakrishna Salai?

The land classification for Ramakrishna Salai is Residential Special Type - IV, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Ramakrishna Salai?

The Sub Registrar Office for Ramakrishna Salai is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ramakrishna Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,07,800 at 7% of the guideline value.