Guideline Value for Ramakrishna Nagar 3rd Street

Ramakrishna Nagar 3rd Street guideline value

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

How the guideline value of Ramakrishna Nagar 3rd Street has changed

The guideline value for Ramakrishna Nagar 3rd Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 3,600 per sq.ft. This was followed by a decrease to Rs 2,412 per sq.ft in 2017. In 2023, the value increased significantly to Rs 3,600 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that 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 is Rs 3,960 per sq.ft, which is equal to the current guideline value of Ramakrishna Nagar 3rd Street.

• 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 2nd 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)
• Ramakrishna Nagar 5th Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200. Together, the total cost for stamp duty and registration fee would be Rs 3,56,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Ramakrishna Nagar 3rd Street?

The Sub Registrar Office that covers Ramakrishna Nagar 3rd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Porur. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the property is not undervalued during the sale.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar 3rd Street?

The current guideline value of Ramakrishna Nagar 3rd 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, marking a 10% increase. The value also increased from Rs 2,412 per sq.ft in 2017 to Rs 3,600 per sq.ft in 2023, which is a 49% increase.

What is the land classification for Ramakrishna Nagar 3rd Street?

Ramakrishna Nagar 3rd Street falls under the land classification of Residential Special Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200, and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which Sub Registrar Office is responsible for Ramakrishna Nagar 3rd Street?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, is responsible for Ramakrishna Nagar 3rd Street.