Guideline Value for Ramakrishanapuram Vinayagar Street

Ramakrishanapuram Vinayagar Street guideline value

The current guideline value of Ramakrishanapuram Vinayagar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ramakrishanapuram Vinayagar Street has changed

Over the years, the guideline value of Ramakrishanapuram Vinayagar Street has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 1,500 per sq.ft. This figure remained the same in the next revision in 2017, but it then dropped to Rs 1,005 per sq.ft. In 2023, the value increased significantly to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, when comparing the values from 2012 to 2024, there has been a 10% increase. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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 is Rs 1,650 per sq.ft, which is equal to the current value of Ramakrishanapuram Vinayagar Street.

• Ramadas Nagar: Rs 3,850 per sq.ft (2024)
• RamaKrishna Nagar: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 2nd street: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 3rd street: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 4th street: Rs 2,750 per sq.ft (2024)
• RamaKrishna Nagar 5th street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishanapuram Vinayagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. It is important to remember that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishanapuram Vinayagar Street?

The Sub Registrar Office that covers Ramakrishanapuram Vinayagar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure that the transaction complies with local regulations.

During the registration process, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, contributing to a transparent process.

Frequently asked questions

What is the current guideline value of Ramakrishanapuram Vinayagar Street?

The current guideline value of Ramakrishanapuram Vinayagar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with a notable increase of 49% from 2017 to 2023.

What is the land classification for Ramakrishanapuram Vinayagar Street?

Ramakrishanapuram Vinayagar Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for this street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ramakrishanapuram Vinayagar Street, located at No.26, mes Road, East Tambaram, Chennai-600059.