Guideline Value for Ramakrishna Nagar /Annex

Ramakrishna Nagar /Annex guideline value

The current guideline value for Ramakrishna Nagar /Annex is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Ramakrishna Nagar /Annex has changed

The guideline value for Ramakrishna Nagar /Annex has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 429 per sq.ft. This increased to Rs 570 per sq.ft in 2003, followed by a significant jump to Rs 1,250 per sq.ft in 2007. The 2012 revision saw a decrease to Rs 3,200 per sq.ft, which was then followed by a drop to Rs 2,144 per sq.ft in 2017. The value rose again to Rs 3,200 per sq.ft in 2023, and currently stands at Rs 3,520 per sq.ft as of the 2024 revision.

Between these revisions, there have been notable changes. From 2002 to 2003, the increase was 33%. The value rose by 119% from 2003 to 2007. The 2007 to 2012 period saw a decrease of 33%. However, from 2012 to 2017, the value increased by 156%, followed by a 49% rise from 2017 to 2023. The current increase from 2023 to 2024 is 10%. Overall, from 2002 to 2024, the guideline value has increased by 721%.

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, with a median value of Rs 3,960 per sq.ft. The guideline value for Ramakrishna Nagar /Annex is below this median.

• Ramakrishna Nagar 7th Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 6th Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 5th Street - 2nd Cross Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 5th Street - 1st Cross Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 5th Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 4th Street - Cross Road: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Nagar /Annex

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ramakrishna Nagar /Annex?

The Sub Registrar Office that covers Ramakrishna Nagar /Annex 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 during the registration of property transactions in Porur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is important to refer to the guideline value to understand the financial implications of the transaction. This value helps in determining the official worth of the property for registration purposes, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Ramakrishna Nagar /Annex?

The current guideline value for Ramakrishna Nagar /Annex 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 several times, starting from Rs 429 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 721% over this period.

What is the classification of land in Ramakrishna Nagar /Annex?

The land in Ramakrishna Nagar /Annex is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Ramakrishna Nagar /Annex?

The Sub Registrar Office for Ramakrishna Nagar /Annex is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Ramakrishna Nagar /Annex?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 35,20,000 would incur a stamp duty of Rs 2,46,400 at a rate of 7%.