Guideline Value for Ramakrishna Nagar

Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. This area falls under Ponmar village and is governed by the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Ramakrishna Nagar has changed

Over the years, the guideline value of Ramakrishna Nagar has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which then increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a remarkable 900% increase. However, the 2017 revision saw a decrease to Rs 670 per sq.ft, a drop of 33%. The latest revision in 2023 brought the guideline value back up to Rs 1,000 per sq.ft, reflecting a 49% increase from the previous revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2024 in the register for this street. Overall, from 2007 to 2023, the guideline value has increased by 900%.

Guideline values in Ponmar

Currently, there are no specific guideline values listed for other streets in Ponmar under the Gooduvancheri SRO. The only available figure is for Ramakrishna Nagar, which is Rs 1,000 per sq.ft as of 2023.

Stamp duty and registration fee for property in Ramakrishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty, charged at 7%, would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Ramakrishna Nagar?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ponmar. 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 registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar?

The current guideline value of Ramakrishna Nagar is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and finally returned to Rs 1,000 per sq.ft in 2023.

What is the stamp duty rate for properties in Ramakrishna Nagar?

The stamp duty rate for properties in Ramakrishna Nagar is 7% of the guideline value or the sale price, whichever is higher.

What fees are associated with property registration in Ramakrishna Nagar?

In addition to the stamp duty, there is a registration fee of 2% on the guideline value or the sale price, whichever is higher.

Where can I find the Gooduvancheri Sub Registrar Office?

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