Guideline Value for Ramakrishana Nagar

Ramakrishana Nagar guideline value

The current guideline value of Ramakrishana Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramakrishana Nagar has changed

Over the years, the guideline value of Ramakrishana Nagar has seen several revisions. Starting from the earliest revision in 2002, the guideline value was Rs 233 per sq.ft. This increased to Rs 253 per sq.ft in 2003, marking a 9% rise. The value continued to increase significantly, reaching Rs 1,000 per sq.ft in 2007, which was a 295% increase. In 2012, the value was Rs 2,500 per sq.ft, reflecting a 150% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 1,675 per sq.ft, a decline of 33%. However, the value rebounded to Rs 2,500 per sq.ft in 2023, and further increased to the current value of Rs 2,700 per sq.ft in 2024, representing an 8% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,059%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median of Rs 3,300 per sq.ft. The guideline value of Ramakrishana Nagar is below this median.

• Ramaiya Colony: Rs 2,200 per sq.ft (2024)
• Ramadhas Nagar: Rs 2,200 per sq.ft (2024)
• Ramani Nagar: Rs 2,700 per sq.ft (2024)
• Ramdoss Nagar: Rs 2,700 per sq.ft (2024)
• Raja Rajeswari Nagar: Rs 2,700 per sq.ft (2024)
• Raja Rajashwari Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that 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 details.

Which Sub Registrar Office covers Ramakrishana Nagar?

The Sub Registrar Office that covers Ramakrishana Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the transaction.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This process helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Ramakrishana Nagar?

The current guideline value of Ramakrishana Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 233 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1,059% over this period.

What is the land classification for Ramakrishana Nagar?

Ramakrishana Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Ramakrishana Nagar?

The Sub Registrar Office for Ramakrishana Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000.