Guideline Value for RAMAKRISHNA STREET(D.NO 1.KENCES TOWER COMMERCIAL COMPLEX)FACING TO NORTH USAMAN ROAD

Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road guideline value

The current guideline value for Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road is Rs 27,500 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - I.

How the guideline value of Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road has changed

The guideline value for this street has seen several revisions over the years. In 2007, the value was Rs 11,282 per sq.ft, which increased significantly to Rs 25,000 per sq.ft in 2012, marking a 122% rise. However, from 2012 to 2017, the value decreased to Rs 16,750 per sq.ft, a decline of 33%. The value then rose again to Rs 25,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the guideline value at Rs 27,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 concerning this street. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road above this median.

• Ramakrishna Street (Other Than D.No.1 Kences Towers Residencial Complex): Rs 27,500 per sq.ft (2024)
• Ramakishnapuram: Rs 7,700 per sq.ft (2024)
• Ramakamathupuram: Rs 5,500 per sq.ft (2024)
• Ramanathan Street: Rs 13,200 per sq.ft (2024)
• Ramachandra Street: Rs 6,600 per sq.ft (2024)
• Ramachandra Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road

For a 1,000 sq.ft plot at the current guideline value of Rs 27,500 per sq.ft, the total guideline value would be Rs 2,75,00,000. The stamp duty at 7% would amount to Rs 19,25,000, and the registration fee at 2% would be Rs 5,50,000, making the total cost for these fees Rs 24,75,000. It is important to note that 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 information on fees applicable to your property.

Which Sub Registrar Office covers Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road?

The Sub Registrar Office that covers Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. For further details, you can find your SRO.

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

The guideline value is a critical factor during the registration of property in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the correct fees are paid and helps in the smooth registration process. It also aids in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road?

The current guideline value for Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road is Rs 27,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 11,282 per sq.ft in 2007 to Rs 27,500 per sq.ft in 2024, representing an overall increase of 144%.

What is the land classification for this street?

The land classification for Ramakrishna Street(D.No 1.Kences Tower Commercial Complex)facing To North Usaman Road is Commercial Special Type - I.

Where can I find the registration office for this property?

The registration office for this property is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. It is important to consider these fees when planning a property transaction.