Guideline Value for Ramakrishna Nagar

Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village under the Gooduvancheri SRO, classified as Residential Class I Type - IV.

How the guideline value of Ramakrishna Nagar has changed

The guideline value for Ramakrishna Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,110 per sq.ft, which is a 10% increase from Rs 1,005 per sq.ft in the 2023 revision. Notably, there was no change in the value from the 2017 revision, which also recorded Rs 1,005 per sq.ft. The register has no figures for the years 2012, 2007, 2003, and 2002 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. The 2024 figure is now below the median guideline value of Rs 1,215 per sq.ft for the 118 streets in Mannivakkam under the Gooduvancheri SRO.

Guideline values in Mannivakkam

Mannivakkam has a range of guideline values across its streets, with figures from Rs 330 to Rs 4,300 per sq.ft. The guideline value for Ramakrishna Nagar is Rs 1,110 per sq.ft, which is below the median value for the area.

• Ramakrishna Salai: Rs 1,540 per sq.ft (2024)
• Rajiv Street: Rs 1,100 per sq.ft (2024)
• Ram Nagar: Rs 1,320 per sq.ft (2024)
• Ram Nagar Extn: Rs 1,325 per sq.ft (2024)
• Rajathi Kalaigar Nagar: Rs 1,320 per sq.ft (2024)
• Sai Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, totaling Rs 99,900. It is important to note that the 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?

The Sub Registrar Office that covers Ramakrishna Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar?

The current guideline value of Ramakrishna Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 10%, from Rs 1,005 per sq.ft in 2017 to Rs 1,110 per sq.ft in 2024. There was no change in the value from 2017 to 2023.

What is the land classification for Ramakrishna Nagar?

Ramakrishna Nagar is classified as Residential Class I Type - IV, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Ramakrishna Nagar?

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700 and the registration fee would be Rs 22,200, totaling Rs 99,900. These fees are based on the guideline value.

Which Sub Registrar Office covers Ramakrishna Nagar?

The Gooduvancheri Sub Registrar Office covers Ramakrishna Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.