Guideline Value for Ramakrishna Nagar 1st Street

Ramakrishna Nagar 1st Street guideline value

The current guideline value of Ramakrishna Nagar 1st Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Ramakrishna Nagar 1st Street has changed

The guideline value for Ramakrishna Nagar 1st Street has seen several revisions over the years. In the 2012 revision, the value was Rs 3,600 per sq.ft, which decreased to Rs 2,412 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,600 per sq.ft in the 2023 revision. The most recent revision in 2024 set the value at Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, which is equal to the guideline value of Ramakrishna Nagar 1st Street.

• Ramakrishna Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 3rd Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 3rd Street - 1st Cross street: Rs 3,960 per sq.ft (2024)
• Ramakrishna nagar 3rd Street - 2nd Cross Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 4th 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 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total fees to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramakrishna Nagar 1st Street?

The Sub Registrar Office that covers Ramakrishna Nagar 1st Street 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 when registering a property in Porur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both the buyer and seller. This value is updated periodically to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar 1st Street?

The current guideline value of Ramakrishna Nagar 1st Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, which is a 10% increase. It was Rs 2,412 per sq.ft in 2017, showing a significant increase of 49% to 2023.

What is the land classification of Ramakrishna Nagar 1st Street?

The land classification for Ramakrishna Nagar 1st Street is Residential Special Type - I, indicating its designated use for residential purposes.

How is stamp duty calculated for properties in Ramakrishna Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 2,77,200.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area, including Ramakrishna Nagar 1st Street.