Guideline Value for RAMAKRISHNAPURAM MAIN ROAD

Ramakrishnapuram Main Road guideline value

The current guideline value of Ramakrishnapuram Main Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Ramakrishnapuram Main Road has changed

The guideline value for Ramakrishnapuram Main Road has undergone several revisions over the years. In 2012, the guideline value was Rs 8,000 per sq.ft, which then decreased to Rs 5,360 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 8,800 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. This lack of data means we cannot assess changes during those years.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which is equal to the current value of Ramakrishnapuram Main Road.

• Ramakrishnapuram 6th Street: Rs 11,500 per sq.ft (2024)
• Ramakrishnapuram 5th Street: Rs 11,500 per sq.ft (2024)
• Ramakrishnapuram 4th Street: Rs 11,500 per sq.ft (2024)
• Ramakrishnapuram 3rd Street: Rs 11,500 per sq.ft (2024)
• Ramakrishnapuram 2nd Street: Rs 11,500 per sq.ft (2024)
• Ramakrishnapuram 1st Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnapuram Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total cost for these fees to Rs 7,92,000. 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 further assistance.

Which Sub Registrar Office covers Ramakrishnapuram Main Road?

The Sub Registrar Office that covers Ramakrishnapuram Main Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. For more information, you can find your SRO.

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

When buying or selling property in Mylapore, the guideline value serves as a benchmark for determining the value of the property for registration purposes. This value is essential for calculating the stamp duty and registration fees that must be paid during the transaction.

It is crucial to ensure that the sale price of the property is at least equal to the guideline value, as the duty is charged on the higher of the two. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram Main Road?

The current guideline value of Ramakrishnapuram Main Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, and then increased to Rs 8,800 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for Ramakrishnapuram Main Road?

Ramakrishnapuram Main Road is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ramakrishnapuram Main Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value of the property. For example, for a property valued at Rs 88,00,000, the stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000.