Guideline Value for Ramakrishna Nagar Main Road

Ramakrishna Nagar Main Road guideline value

The current guideline value of Ramakrishna Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Ramakrishna Nagar Main Road has changed

The guideline value for Ramakrishna Nagar Main Road has seen several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 marked a 10% increase from the 2023 figure, bringing the value to Rs 3,850 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2017.

Overall, the guideline value has increased by 157% from the 2007 figure to the current 2024 value. The 2012 to 2023 period saw no change, while the jump from 2007 to 2012 was a substantial 133%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO carrying a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median of Rs 4,400 per sq.ft. The guideline value of Ramakrishna Nagar Main Road is below this median.

• Ramakrishna Nagar E.B.Colony 4th 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 2nd Street: Rs 4,400 per sq.ft (2024)
• Ramakrishna Nagar E.B.Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Ramakrishna Nagar Bhavaniamman Koil Street: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ramakrishna Nagar Main Road?

The Sub Registrar Office that covers Ramakrishna Nagar Main Road 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, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar Main Road?

The current guideline value of Ramakrishna Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, representing a total increase of 157% over the years.

What is the land classification for Ramakrishna Nagar Main Road?

The land classification for Ramakrishna Nagar Main Road is Residential Class II Type - III.

Where can I find the Sub Registrar Office for Ramakrishna Nagar Main Road?

The Sub Registrar Office for Ramakrishna Nagar Main Road is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Ramakrishna Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.