Guideline Value for Ramakrishna Nagar 5th Street - 2nd Cross Street

Ramakrishna Nagar 5th Street - 2nd Cross Street guideline value

The current guideline value for Ramakrishna Nagar 5th Street - 2nd Cross 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 is classified as Residential Special Type - I.

How the guideline value of Ramakrishna Nagar 5th Street - 2nd Cross Street has changed

The guideline value for Ramakrishna Nagar 5th Street - 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was a decrease of 33% from Rs 2,412 per sq.ft in the 2017 revision. The value remained at Rs 3,600 per sq.ft until the 2023 revision, which increased it to Rs 3,960 per sq.ft, marking a 10% rise. The current value reflects a 10% overall increase from the 2012 figure.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. The most recent revision in 2024 shows the guideline value at Rs 3,960 per sq.ft, which aligns with the median value for the 530 streets in Porur under the Kunrathur SRO.

Guideline values in Porur

In Porur, the guideline values for the 2024 revision range from Rs 2,860 to Rs 6,380 per sq.ft, with the median value being Rs 3,960 per sq.ft. The guideline value for Ramakrishna Nagar 5th Street - 2nd Cross Street matches this median.

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

Stamp duty and registration fee for property in Ramakrishna Nagar 5th Street - 2nd Cross 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 together 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.

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

Which Sub Registrar Office covers Ramakrishna Nagar 5th Street - 2nd Cross Street?

The Ramakrishna Nagar 5th Street - 2nd Cross Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

When buying or selling property in Porur, the guideline value is a crucial factor that determines the registration fees and stamp duty payable. This value serves as a benchmark for calculating these fees, ensuring that they are aligned with the official valuation set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. The registration process will require adherence to the guideline value, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value for Ramakrishna Nagar 5th Street - 2nd Cross Street?

The current guideline value for Ramakrishna Nagar 5th Street - 2nd Cross Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024. This reflects a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the land classification for this street?

The land classification for Ramakrishna Nagar 5th Street - 2nd Cross Street is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the registration office for this area?

The registration office that covers Ramakrishna Nagar 5th Street - 2nd Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in this area?

Stamp duty for properties in Ramakrishna Nagar 5th Street - 2nd Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 2,77,200 based on the current guideline value.