Guideline Value for RAMAKRISHNAN GARDEN

Ramakrishnan Garden guideline value

The current guideline value for Ramakrishnan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Uthandi village under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Ramakrishnan Garden has changed

Over the years, the guideline value for Ramakrishnan Garden has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,000 per sq.ft. The most recent revision in 2024 has further raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Uthandi

In Uthandi village, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, indicating that Ramakrishnan Garden's 2024 figure is below this median.

• Ramakannan Gunaseelan Garden: Rs 1,100 per sq.ft (2024)
• Ramachandran Garden: Rs 1,100 per sq.ft (2024)
• Ramarajamanickam Garden: Rs 1,100 per sq.ft (2024)
• Ramasubramanian Garden: Rs 1,100 per sq.ft (2024)
• Rajendran Garden: Rs 1,100 per sq.ft (2024)
• Ramu Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishnan Garden?

The Sub Registrar Office that covers Ramakrishnan Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramakrishnan Garden?

The current guideline value of Ramakrishnan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Ramakrishnan Garden?

Ramakrishnan Garden is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Ramakrishnan Garden?

The Neelankarai Sub Registrar Office covers Ramakrishnan Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Ramakrishnan Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 99,000.