Guideline Value for RAMAKRISHNAN NAGAR

Ramakrishnan Nagar guideline value

The current guideline value for Ramakrishnan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village and falls under the Pallavaram SRO. The land classification for this street is Mixed Type - II.

How the guideline value of Ramakrishnan Nagar has changed

The guideline value for Ramakrishnan Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Ramakrishnan Nagar's 2024 figure above this median.

• Rajiv Nagar 1 To 3 Street: Rs 3,300 per sq.ft (2024)
• Ramanujar Garden: Rs 2,310 per sq.ft (2024)
• Rajiv Gandhi 1 To 7 Streets: Rs 3,300 per sq.ft (2024)
• Rane Nagar: Rs 1,960 per sq.ft (2024)
• Rajeev Nagar: Rs 3,300 per sq.ft (2024)
• Rajeev Gandhi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramakrishnan Nagar?

The Sub Registrar Office that covers Ramakrishnan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling 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. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Ramakrishnan Nagar?

The current guideline value for Ramakrishnan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64%.

What are the other streets with similar guideline values in Nanmangalam?

Other streets in Nanmangalam with similar guideline values include Rajiv Nagar 1 To 3 Street, Rajiv Gandhi 1 To 7 Streets, Rajeev Nagar, and Rajeev Gandhi Nagar, all at Rs 3,300 per sq.ft in 2024.

What is the registration fee for a property in Ramakrishnan Nagar?

The registration fee for a property in Ramakrishnan Nagar is calculated at 2% of the guideline value. For example, on a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

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

The Sub Registrar Office for Ramakrishnan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information by visiting the appropriate link.