Guideline Value for RAMAKRISHNAPURAM 3 STREET

Ramakrishnapuram 3 Street guideline value

The current guideline value of Ramakrishnapuram 3 Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ramakrishnapuram 3 Street has changed

The guideline value for Ramakrishnapuram 3 Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,185 per sq.ft. This increased to Rs 1,318 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 2,000 per sq.ft in 2007, which was a 52% increase. By 2012, the value was Rs 5,000 per sq.ft, reflecting a substantial 150% increase from the previous revision. However, it dropped to Rs 3,350 per sq.ft in 2017, indicating a decrease of 33%.

In the subsequent revisions, the guideline value increased to Rs 5,000 per sq.ft in 2023, which was a 49% rise from 2017. The most recent revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 364%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Ramakrishnapuram 3 Street's 2024 value below that median.

• Ramaiah Street: Rs 6,600 per sq.ft (2024)
• Rajaji Street Western Side Of Reddy Kuppam Road Contd: Rs 6,600 per sq.ft (2024)
• Rajaji Street(C.I.T.Nagar): Rs 7,700 per sq.ft (2024)
• Reddy Kuppam Road: Rs 7,700 per sq.ft (2024)
• Rajagopalan Street: Rs 6,600 per sq.ft (2024)
• Railway Border 2 Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnapuram 3 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Ramakrishnapuram 3 Street?

The Sub Registrar Office that covers Ramakrishnapuram 3 Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Mambalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value as it influences the overall costs associated with property transactions. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram 3 Street?

The current guideline value of Ramakrishnapuram 3 Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,185 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 364% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,500 per sq.ft, the stamp duty is calculated at 7% and the registration fee at 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which Sub Registrar Office handles registrations for Ramakrishnapuram 3 Street?

The Thiyagaraya nagar Sub Registrar Office is responsible for handling registrations for Ramakrishnapuram 3 Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Ramakrishnapuram 3 Street?

The land classification for Ramakrishnapuram 3 Street is Residential Class III Type - I, indicating its designated use for residential purposes.