Guideline Value for Ramakrishna Nagar 4th Main Road

Ramakrishna Nagar 4th Main Road guideline value

The current guideline value of Ramakrishna Nagar 4th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Ramakrishna Nagar 4th Main Road has changed

Over the years, the guideline value of Ramakrishna Nagar 4th Main Road has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is an increase from Rs 3,500 per sq.ft in the 2023 revision. Notably, there was no change in the value from 2012 to 2023, where it remained at Rs 3,500 per sq.ft. The overall change from 2012 to 2024 is a 10% increase.

The register does not contain figures for the years 2002, 2003, 2007, and 2017. Therefore, the only revisions available are from 2012, 2023, and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Ramakrishna Nagar 4th Main Road's 2024 figure below that median.

• Ramakrishna Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Ramakrishna Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Ramakrishna Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Ramakrishna Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Ramakrishna Nagar 2nd Cross Street (Alias) Bhavani Amman Koil Street: Rs 3,850 per sq.ft (2024)
• Ramakrishna Nagar Bhavaniamman Koil Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Nagar 4th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishna Nagar 4th Main Road?

The Sub Registrar Office that covers Ramakrishna Nagar 4th Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Velachery. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for legal property transactions.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and transparently. It also provides a reference point for both buyers and sellers regarding the property's value in the market.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar 4th Main Road?

The current guideline value of Ramakrishna Nagar 4th Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. There was no change from 2012 to 2023, where it remained at Rs 3,500 per sq.ft.

What is the land classification of Ramakrishna Nagar 4th Main Road?

Ramakrishna Nagar 4th Main Road is classified as Residential Class II Type - III.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Ramakrishna Nagar 4th Main Road is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ramakrishna Nagar 4th Main Road is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.