Guideline Value for RAMAKRISHNAPURAM

Ramakrishnapuram guideline value

The current guideline value of Ramakrishnapuram is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ramakrishnapuram has changed

The guideline value for Ramakrishnapuram has undergone several revisions over the years. The 2012 revision recorded a guideline value of Rs 7,000 per sq.ft, which decreased to Rs 4,690 per sq.ft in the 2017 revision, marking a decline of 33%. The subsequent revision in 2023 saw a significant increase to Rs 7,000 per sq.ft, followed by the current value of Rs 7,700 per sq.ft, reflecting a 10% increase.

From the 2017 revision to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value of Ramakrishnapuram at Rs 7,700 per sq.ft is below this median.

• Ramakakrishna Street (D.No 1.Kences Tower Commercial Complex) facing To North Usaman Road: Rs 27,500 per sq.ft (2024)
• Ramakakrishna Street (Other Than D.No.1 Kences Towers Residential Complex): Rs 27,500 per sq.ft (2024)
• Ramakamathupuram: Rs 5,500 per sq.ft (2024)
• Ramachandra Street: Rs 6,600 per sq.ft (2024)
• Ramachandra Road: Rs 11,000 per sq.ft (2024)
• Ramanathan Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishnapuram?

The Sub Registrar Office covering Ramakrishnapuram is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Tnagar. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It ensures that the property is registered at a value that reflects its worth according to the local government standards.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram?

The current guideline value of Ramakrishnapuram is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2012 to Rs 4,690 per sq.ft in 2017, then increased to Rs 7,000 per sq.ft in 2023, and is currently Rs 7,700 per sq.ft in 2024.

Which Sub Registrar Office is responsible for Ramakrishnapuram?

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

What are the stamp duty and registration fees for property in Ramakrishnapuram?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

What is the land classification of Ramakrishnapuram?

Ramakrishnapuram is classified as Residential Class II Type - II, which influences its guideline value and usage in property transactions.