Guideline Value for Ramakrishna Nagar 7th Street

Ramakrishna Nagar 7th Street guideline value

The current guideline value of Ramakrishna Nagar 7th 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 7th Street has changed

The guideline value for Ramakrishna Nagar 7th Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,600 per sq.ft. This figure then decreased to Rs 2,412 per sq.ft in the 2017 revision, marking a reduction of 33%. Following this, the value increased significantly to Rs 3,600 per sq.ft in the 2023 revision, and then to Rs 3,960 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 the same as the current guideline value for Ramakrishna Nagar 7th Street.

• Ramakrishna Nagar 6th Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 5th Street - 2nd Cross Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar /Annex: Rs 3,520 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 4th Street - Cross Road: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Nagar 7th 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 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramakrishna Nagar 7th Street?

The Sub Registrar Office that covers Ramakrishna Nagar 7th 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 crucial factor during property registration in Porur. It serves as the basis for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is considered for the calculation of these fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar 7th Street?

The current guideline value of Ramakrishna Nagar 7th 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 2012 to Rs 2,412 per sq.ft in 2017, then back to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024.

What are the stamp duty and registration fees for properties 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 7th Street?

The Kunrathur Sub Registrar Office is responsible for Ramakrishna Nagar 7th Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Ramakrishna Nagar 7th Street?

Ramakrishna Nagar 7th Street is classified as Residential Special Type - I, which indicates its designation for residential purposes.