Guideline Value for RamaKrishna 5th Street,

RamaKrishna 5th Street, guideline value

The current guideline value of RamaKrishna 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of RamaKrishna 5th Street has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This marked a significant increase of 64% when compared to the 2024 revision, which set the current value at Rs 2,750 per sq.ft. The register has no figures for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street.

From 2017 to 2024, the guideline value increased from Rs 1,675 to Rs 2,750 per sq.ft. This change reflects the ongoing adjustments in property values within the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of RamaKrishna 5th Street is equal to this median.

• Ramaiah Nagar: Rs 1,650 per sq.ft (2024)
• Ramachandra Salai 2nd Street: Rs 2,200 per sq.ft (2024)
• Ramachandra Salai 1st Street: Rs 2,200 per sq.ft (2024)
• Ramakrishna Nagar, Manikavasagar Street: Rs 2,750 per sq.ft (2024)
• Rama Chandara Salai: Rs 3,300 per sq.ft (2024)
• RamaKrishna Raj 5th Street, Sheela Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in RamaKrishna 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total charges Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on these charges.

Which Sub Registrar Office covers RamaKrishna 5th Street?

The Sub Registrar Office that covers RamaKrishna 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it directly impacts the financial obligations of both parties involved in the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of RamaKrishna 5th Street?

The current guideline value of RamaKrishna 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft, representing a 64% increase.

Are there any years without guideline values for RamaKrishna 5th Street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for RamaKrishna 5th Street.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is the same as the current value for RamaKrishna 5th Street.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.