Guideline Value for Ramakrishna Nagar Extension

Ramakrishna Nagar Extension guideline value

The current guideline value of Ramakrishna Nagar Extension is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Ramakrishna Nagar Extension has changed

The guideline value for Ramakrishna Nagar Extension has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 has raised the value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The significant changes include a 49% increase from 2017 to 2023 and a steady rise leading to the current value.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, positioning Ramakrishna Nagar Extension below this median.

• Ramakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Ramakrishnan Street: Rs 6,600 per sq.ft (2024)
• Raju Street: Rs 2,200 per sq.ft (2024)
• Rajmohan Nagar: Rs 2,200 per sq.ft (2024)
• Ramasamy Pandithar Street: Rs 2,200 per sq.ft (2024)
• Ramasamy Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. 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 Extension?

The Sub Registrar Office that covers Ramakrishna Nagar Extension is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar Extension?

The current guideline value of Ramakrishna Nagar Extension is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Ramakrishna Nagar Extension?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ramakrishna Nagar Extension, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Ramakrishna Nagar Extension?

Ramakrishna Nagar Extension is classified as Residential Class II Type - I, which indicates its suitability for residential development.