Guideline Value for Ramakrishna Nagar E.B.Colony 1st Street

Ramakrishna Nagar E.B.Colony 1st Street guideline value

The current guideline value for Ramakrishna Nagar E.B.Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ramakrishna Nagar E.B.Colony 1st Street has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This increased to Rs 4,400 per sq.ft in the 2024 revision, marking a change of +10%. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

The current guideline value of Rs 4,400 per sq.ft is equal to the median value for the 2,691 streets in Velachery under the Velacheri SRO, which range from Rs 3,300 to Rs 13,200 per sq.ft.

Guideline values in Velachery

In Velachery, the guideline values vary significantly, with the median being Rs 4,400 per sq.ft. Ramakrishna Nagar E.B.Colony 1st Street's 2024 figure aligns with this median.

• Ramakrishna Nagar E.B.Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Ramakrishna Nagar E.B.Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Ramakrishna Nagar E.B.Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Ramakrishna Nagar Bhavaniamman Koil Street: Rs 3,850 per sq.ft (2024)
• Ramakrishna Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Ramakrishna Nagar 4th Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Nagar E.B.Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramakrishna Nagar E.B.Colony 1st Street?

The Sub Registrar Office covering Ramakrishna Nagar E.B.Colony 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Velachery. It determines the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It helps in assessing the fair value of the property and ensures that the transaction is recorded accurately at the registration office.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar E.B.Colony 1st Street?

The current guideline value of Ramakrishna Nagar E.B.Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, which is a change of +10%. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the classification of Ramakrishna Nagar E.B.Colony 1st Street?

Ramakrishna Nagar E.B.Colony 1st Street is classified as Residential Class II Type - II. This classification is important for determining the guideline value.

Where can I find the registration office for this area?

The registration office for Ramakrishna Nagar E.B.Colony 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.