Guideline Value for Ramakrishna Nagar Extension I

Ramakrishna Nagar Extension I guideline value

The current guideline value of Ramakrishna Nagar Extension I is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Porur village and falls under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Ramakrishna Nagar Extension I has changed

Examining the revisions, the guideline value for Ramakrishna Nagar Extension I has seen several changes over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which then decreased to Rs 2,412 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,600 per sq.ft, marking a 49% rise. The most recent revision in 2024 has established the current guideline value at Rs 3,960 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for 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, with guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value is Rs 3,960 per sq.ft, which is equal to the 2024 figure for Ramakrishna Nagar Extension I.

• Ramakrishna Nagar Extn Main Road: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar - Lane (Kalathu Medu): Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar /Annex: Rs 3,520 per sq.ft (2024)
• Ramakrishna Nagar 7th Street: Rs 3,960 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Ramakrishna Nagar Extension I

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 to Rs 3,56,400. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramakrishna Nagar Extension I?

The Ramakrishna Nagar Extension I falls under the jurisdiction of 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 in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar Extension I?

The current guideline value of Ramakrishna Nagar Extension I 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. From 2017 to 2023, it increased from Rs 2,412 per sq.ft to Rs 3,600 per sq.ft, a rise of 49%.

What is the land classification for Ramakrishna Nagar Extension I?

Ramakrishna Nagar Extension I is classified as Residential Special Type - I, indicating that it is designated for residential purposes.

Where can I find information about stamp duty and registration fees?

Information about stamp duty and registration fees can be found using the stamp duty and registration fee calculator.

Which office handles property registrations for Ramakrishna Nagar Extension I?

The Kunrathur Sub Registrar Office handles property registrations for Ramakrishna Nagar Extension I, located at No.59, Road Street, Kundrathur, Chennai -600 069.