Guideline Value for RAMAKRISHNAPURAM

Ramakrishnapuram guideline value

The current guideline value of Ramakrishnapuram is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Ramakrishnapuram has changed

Over the years, the guideline value of Ramakrishnapuram has seen significant changes. In 2002, the guideline value was Rs 529 per sq.ft. This increased to Rs 605 per sq.ft in 2003, marking a 14% rise. The value continued to grow, reaching Rs 950 per sq.ft in 2007, which was a 57% increase from the previous year. By 2012, the value had risen to Rs 3,000 per sq.ft, reflecting a substantial 216% increase from 2007. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value rose again to Rs 3,000 per sq.ft, and by 2024, it increased further to Rs 3,300 per sq.ft, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 524%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Ramakrishnapuram's 2024 figure is below this median.

• Raja Street: Rs 3,300 per sq.ft (2024)
• Reddy Street: Rs 3,300 per sq.ft (2024)
• Radhakrishna Street: Rs 3,300 per sq.ft (2024)
• Sai Murugan Street: Rs 3,300 per sq.ft (2024)
• PONVIZHA NAGAR 5th STREET: Rs 4,400 per sq.ft (2024)
• PONVIZHA NAGAR 4th STREET: Rs 4,400 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishnapuram?

The Sub Registrar Office covering Ramakrishnapuram is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Villivakkam. It determines the minimum value at which property transactions must be registered. Buyers and sellers must ensure that the sale price is at least equal to the guideline value to avoid issues during registration.

When registering a property, the stamp duty and registration fees 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.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram?

The current guideline value of Ramakrishnapuram is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 529 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 524%.

What is the median guideline value in Villivakkam?

The median guideline value for the 372 streets in Villivakkam is Rs 4,900 per sq.ft, which is higher than the current value for Ramakrishnapuram.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Ramakrishnapuram located?

The Sub Registrar Office for Ramakrishnapuram is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.