Guideline Value for Ramakrishna Avenue

Ramakrishna Avenue guideline value

The current guideline value of Ramakrishna Avenue is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Kalvai village and falls under the Thiruporur SRO, classified as Mixed Type - II.

How the guideline value of Ramakrishna Avenue has changed

The guideline value for Ramakrishna Avenue has undergone significant changes over the years. The register does not provide figures for the revisions in 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was set at Rs 900 per sq.ft, which was then revised to Rs 1,800 per sq.ft in 2024, marking an increase of 100%.

This substantial change reflects a notable adjustment in the valuation of properties along this street. The 2024 figure of Rs 1,800 per sq.ft is significantly higher than the previous year's value, indicating a shift in the guideline value for Ramakrishna Avenue.

Guideline values in Kalvai

In Kalvai, there are 31 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Ramakrishna Avenue's 2024 figure of Rs 1,800 per sq.ft is above this median.

• Rithika Enclave: Rs 400 per sq.ft (2024)
• Rithika Enclave Phase - II: Rs 400 per sq.ft (2024)
• Sanjay Nagar: Rs 1,000 per sq.ft (2024)
• Skandhaguru Avenue: Rs 3,000 per sq.ft (2024)
• Sk Avenue: Rs 701 per sq.ft (2024)
• S.K Avenue Phase II: Rs 701 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total charges to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramakrishna Avenue?

The Sub Registrar Office that covers Ramakrishna Avenue is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kalvai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramakrishna Avenue?

The current guideline value of Ramakrishna Avenue is Rs 1,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 900 per sq.ft in 2023 to Rs 1,800 per sq.ft in 2024, representing a 100% increase.

What are the other streets in Kalvai with their guideline values?

Other streets in Kalvai have varying guideline values, with figures ranging from Rs 400 to Rs 3,000 per sq.ft. For example, Rithika Enclave and Rithika Enclave Phase - II have a guideline value of Rs 400 per sq.ft, while Skandhaguru Avenue is at Rs 3,000 per sq.ft.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is typically 7%, which is calculated based on the higher of the guideline value or the sale price of the property.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.