Guideline Value for Ramakrishna Nagar 6th Street

Ramakrishna Nagar 6th Street guideline value

The current guideline value of Ramakrishna Nagar 6th 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 is classified as Residential Special Type - I.

How the guideline value of Ramakrishna Nagar 6th Street has changed

The guideline value for Ramakrishna Nagar 6th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value increased significantly to Rs 3,600 per sq.ft in the 2023 revision, and further rose by 10% to Rs 3,960 per sq.ft in the 2024 revision.

In total, from 2012 to 2024, the guideline value 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 guideline value for these streets is Rs 3,960 per sq.ft, which is equal to the current value of Ramakrishna Nagar 6th Street.

• Ramakrishna Nagar 5th Street - 2nd Cross Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 7th Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 5th Street - 1st Cross Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 5th Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar /Annex: Rs 3,520 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 6th 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, totaling Rs 3,56,400. It is important to note that 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 6th Street?

The Sub Registrar Office that covers Ramakrishna Nagar 6th 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 critical factor in property transactions in Porur, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is important for buyers and sellers to be aware of the current guideline value, as it can impact the overall costs involved in a property transaction. Understanding these values helps ensure compliance with local regulations during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar 6th Street?

The current guideline value of Ramakrishna Nagar 6th 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. It was Rs 2,412 per sq.ft in 2017, down from Rs 3,600 per sq.ft in 2012.

What is the land classification for Ramakrishna Nagar 6th Street?

Ramakrishna Nagar 6th Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the registration office for this area?

The registration office covering Ramakrishna Nagar 6th 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 Porur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 39,60,000 would incur a stamp duty of Rs 2,77,200 at the rate of 7%.