Guideline Value for RAMAKRISHNAN STREET

Ramakrishnan Street guideline value

The current guideline value of Ramakrishnan Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Ramakrishnan Street has changed

The guideline value for Ramakrishnan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,206 per sq.ft. The 2023 revision increased the value to Rs 1,800 per sq.ft, and the latest 2024 revision raised it to Rs 1,950 per sq.ft, marking an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, comparing the values from 2012 to 2024, there has been an 8% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, which is equal to the 2024 figure for Ramakrishnan Street.

• Rajendra Prasad Street: Rs 1,950 per sq.ft (2024)
• Rajendra Prasad: Rs 1,950 per sq.ft (2024)
• Reddiyambakkam Main Road: Rs 1,650 per sq.ft (2024)
• Sai Nagar: Rs 2,200 per sq.ft (2024)
• Project Aran: Rs 4,000 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. It is important to note that the 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.

Which Sub Registrar Office covers Ramakrishnan Street?

The Sub Registrar Office that covers Ramakrishnan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Ottiyampakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration fee and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramakrishnan Street?

The current guideline value of Ramakrishnan Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,950 per sq.ft in 2024, with significant changes in between, including a drop to Rs 1,206 per sq.ft in 2017 and an increase to Rs 1,800 per sq.ft in 2023.

What is the registration office for Ramakrishnan Street?

The registration office for Ramakrishnan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Ramakrishnan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,50,000 would incur a stamp duty of Rs 1,36,500.

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

Other streets in Ottiyampakkam with a guideline value of Rs 1,950 per sq.ft include Rajendra Prasad Street and Ponniamman Koil Street, while Sai Nagar has a higher value of Rs 2,200 per sq.ft.