Guideline Value for Ramakrishna Main Road

Ramakrishna Main Road guideline value

The current guideline value of Ramakrishna Main Road in Porur village, under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Ramakrishna Main Road has changed

The guideline value for Ramakrishna Main Road has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,200 per sq.ft. This figure decreased to Rs 2,144 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 3,200 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,520 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, indicating that the guideline value of Ramakrishna Main Road is below this median.

• Ramakrishnan 1st Street: Rs 3,520 per sq.ft (2024)
• Ramakrishnan 1st Street Lane: Rs 3,960 per sq.ft (2024)
• Ramakrishnan 2nd Street: Rs 3,520 per sq.ft (2024)
• Ramakrishna Nagar 1st Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 3rd Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty, charged at 7%, would be Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. Therefore, the total cost for these fees would be Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramakrishna Main Road?

The Sub Registrar Office covering Ramakrishna Main Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Porur, as it determines the minimum value at which properties can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to accurately estimate the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Ramakrishna Main Road?

The current guideline value of Ramakrishna Main Road is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024. It was Rs 2,144 per sq.ft in 2017 and Rs 3,200 per sq.ft in 2012.

What is the land classification of Ramakrishna Main Road?

Ramakrishna Main Road is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 3,16,800 based on the current guideline value.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.