Guideline Value for Ramakrishna Nagar Avenue

Ramakrishna Nagar Avenue guideline value

The current guideline value of Ramakrishna Nagar Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This avenue is located in Kolapakkam village under the Pammal Sub Registrar Office (SRO) and falls under the Residential Class I Type - I land classification.

How the guideline value of Ramakrishna Nagar Avenue has changed

Over the years, the guideline value of Ramakrishna Nagar Avenue has seen significant changes. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The current guideline value of Rs 2,750 per sq.ft from the 2024 revision reflects a 10% rise from the previous year.

From the 2017 revision to the 2024 revision, the overall increase in guideline value is 64%. Notably, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Ramakrishna Nagar Avenue is above this median.

• Ramakrishna Nagar Annex: Rs 3,290 per sq.ft (2024)
• Ramakrishna Nagar: Rs 2,750 per sq.ft (2024)
• Ramamoorthi Avenue: Rs 2,750 per sq.ft (2024)
• Ramamoorthy Avenue Extn.: Rs 2,750 per sq.ft (2024)
• Rajendran Nagar: Rs 6,850 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Nagar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramakrishna Nagar Avenue?

The Ramakrishna Nagar Avenue is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kolapakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions. Buyers must ensure that the transaction complies with the guideline value to avoid any legal issues during registration.

When a property is sold, the guideline value is used to determine the minimum value on which the stamp duty is calculated. This ensures that the government receives its due revenue from property transactions, reflecting the current market conditions as per the official register.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar Avenue?

The current guideline value of Ramakrishna Nagar Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, reflecting a 64% overall increase across the revisions.

What is the stamp duty rate for property in Ramakrishna Nagar Avenue?

The stamp duty rate for property transactions in Ramakrishna Nagar Avenue is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Ramakrishna Nagar Avenue?

The Pammal Sub Registrar Office handles registrations for Ramakrishna Nagar Avenue, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Where can I find more information on guideline values in Kolapakkam?

For more information on guideline values in Kolapakkam, you can refer to the official registration department's guideline value register or visit the Pammal SRO.