Guideline Value for RAMAKRISHNAN STREET

Ramakrishnan Street guideline value

The current guideline value of Ramakrishnan Street in Perumalagaram village is Rs 3,190 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Ramakrishnan Street has changed

Over the years, the guideline value of Ramakrishnan Street has seen several revisions. The 2012 revision recorded a guideline value of Rs 2,900 per sq.ft, which was then reduced to Rs 1,943 per sq.ft in the 2017 revision. Following this decline, the value increased significantly to Rs 2,900 per sq.ft in the 2023 revision, and then further rose to Rs 3,190 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 reflects a 10% increase. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that have a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value among these streets is Rs 3,190 per sq.ft, making Ramakrishnan Street's 2024 figure equal to that median.

• Ramkumar Street: Rs 3,190 per sq.ft (2024)
• Rajankuppam Perumal Koil To Ponniamman Nagar: Rs 1,650 per sq.ft (2024)
• Rajankuppam Perumal Koil To Ambattur Vanagaram Road: Rs 2,970 per sq.ft (2024)
• Rajankuppam Perumal Koil Street: Rs 825 per sq.ft (2024)
• Rani Anna Nagar 1 To 4 Cross Street: Rs 1,650 per sq.ft (2024)
• Rani Anna Nagar Cross Road: Rs 1,650 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 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total fees to Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishnan Street?

The Sub Registrar Office that covers Ramakrishnan Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

When buying or selling property in Perumalagaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for calculating these fees, ensuring that they are based on a standardized value for the area.

At the time of registration, the buyer must pay the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher. This process helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Ramakrishnan Street?

The current guideline value of Ramakrishnan Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then increased to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the land classification for Ramakrishnan Street?

Ramakrishnan Street is classified as Residential Class V Type - I.

Which Sub Registrar Office covers this street?

The Chennai South Joint II Sub Registrar Office covers Ramakrishnan Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,87,100.