Guideline Value for RamaKrishna Nagar 4th street

RamaKrishna Nagar 4th street guideline value

The current guideline value of RamaKrishna Nagar 4th street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of RamaKrishna Nagar 4th street has changed

Over the years, the guideline value for RamaKrishna Nagar 4th street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing RamaKrishna Nagar 4th street above this median.

• RamaKrishna Nagar: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 3rd street: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 2nd street: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 5th street: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar Ist street: Rs 2,750 per sq.ft (2024)
• Ramakrishnapuram 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in RamaKrishna Nagar 4th 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, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator to estimate your fees based on the current guideline value.

Which Sub Registrar Office covers RamaKrishna Nagar 4th street?

The Sub Registrar Office that covers RamaKrishna Nagar 4th street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to understand that the guideline value will influence the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, which can significantly impact the total expenditure involved in the property transaction.

Frequently asked questions

What is the current guideline value of RamaKrishna Nagar 4th street?

The current guideline value of RamaKrishna Nagar 4th street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for RamaKrishna Nagar 4th street?

The Sub Registrar Office for RamaKrishna Nagar 4th street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for RamaKrishna Nagar 4th street?

RamaKrishna Nagar 4th street is classified under Residential Class I Type - II, indicating its suitability for residential development.