Guideline Value for Ramakrishna Nagar 5th Street

Ramakrishna Nagar 5th Street guideline value

The current guideline value of Ramakrishna Nagar 5th 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 Residential Special Type - I land classification.

How the guideline value of Ramakrishna Nagar 5th Street has changed

The guideline value for Ramakrishna Nagar 5th Street has undergone several revisions over the years. The earliest recorded revision was in 2012, with a guideline value of Rs 3,600 per sq.ft. This figure remained unchanged in the next revision in 2017, where it dropped to Rs 2,412 per sq.ft. However, significant increases followed, with the value rising to Rs 3,600 per sq.ft in 2023 and then to Rs 3,960 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the guideline value saw a 49% increase from 2017 to 2023. The overall change from 2012 to 2024 reflects a 10% increase, with no figures available for the revisions in 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, with the median value being Rs 3,960 per sq.ft. The guideline value of Ramakrishna Nagar 5th Street aligns with this median.

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

Stamp duty and registration fee for property in Ramakrishna Nagar 5th 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 cost 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?

The Sub Registrar Office that covers Ramakrishna Nagar 5th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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 determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar 5th Street?

The current guideline value of Ramakrishna Nagar 5th 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 several times, with significant increases noted from Rs 2,412 per sq.ft in 2017 to Rs 3,600 per sq.ft in 2023, and then to Rs 3,960 per sq.ft in 2024.

What is the land classification for Ramakrishna Nagar 5th Street?

Ramakrishna Nagar 5th Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What is the registration office for Ramakrishna Nagar 5th Street?

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

How is the stamp duty calculated for properties in Ramakrishna Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 39,60,000, the stamp duty would be Rs 2,77,200.