Guideline Value for Ramakrishna Nagar

Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village and falls under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Ramakrishna Nagar has changed

The guideline value for Ramakrishna Nagar has undergone several revisions over the years. The earliest available figure is from 2017, which was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, comparing the 2017 figure to the current 2024 value, there has been a total increase of 64%.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Ramakrishna Nagar is above this median.

• Ramakrishna Nagar Annex: Rs 3,290 per sq.ft (2024)
• Ramakrishna Nagar Avenue: Rs 2,750 per sq.ft (2024)
• Ramamoorthi Avenue: Rs 2,750 per sq.ft (2024)
• Ramamoorthy Avenue Extn.: Rs 2,750 per sq.ft (2024)
• Rajendran Nagar: Rs 6,850 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,980 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramakrishna Nagar?

The Sub Registrar Office that covers Ramakrishna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any penalties. The registration authority uses the guideline value to calculate the necessary fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar?

The current guideline value of Ramakrishna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the registration office for Ramakrishna Nagar?

The registration office for Ramakrishna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty rates for properties in Ramakrishna Nagar?

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

What are the other streets in Kolapakkam with their guideline values?

Other streets in Kolapakkam include Ramakrishna Nagar Annex at Rs 3,290 per sq.ft, Ramakrishna Nagar Avenue at Rs 2,750 per sq.ft, and several others, with values ranging from Rs 1,650 to Rs 6,850 per sq.ft.