Guideline Value for Ramakrishna Nagar

Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar, located in Nallur village under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Ramakrishna Nagar has changed

Over the years, the guideline value for Ramakrishna Nagar has seen several revisions. The 2007 revision set the value at Rs 60 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. However, this figure saw a decrease of 33% to Rs 134 per sq.ft by the 2017 revision. The value remained stable at Rs 200 per sq.ft during the 2023 revision and continues to hold the same rate in the 2024 revision, showing no change from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Nallur

Nallur village has a total of 33 streets under the Sriperumpudur SRO, with guideline values for 2024 ranging from Rs 126 to Rs 700 per sq.ft. The median guideline value in this village is Rs 250 per sq.ft, making Ramakrishna Nagar's current value below that median.

• Ranji Nagar: Rs 126 per sq.ft (2024)
• S.D. Nagar: Rs 350 per sq.ft (2024)
• Siva Sakthi Nagar: Rs 150 per sq.ft (2024)
• NT nagar Extension: Rs 700 per sq.ft (2024)
• S.R. Garden: Rs 150 per sq.ft (2024)
• New Tambaram Avenue: Rs 450 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramakrishna Nagar?

The Sub Registrar Office that covers Ramakrishna Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

When a property is sold, the guideline value is assessed to determine the applicable taxes. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process, as it is the value that will be referred to by the registration authorities.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar?

The current guideline value of Ramakrishna Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft, while it was Rs 134 per sq.ft in 2017.

What is the land classification of Ramakrishna Nagar?

Ramakrishna Nagar is classified as Residential Special Type - II, indicating its suitability for residential developments.

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 the sale price, whichever is higher.

Where is the Sub Registrar Office for Ramakrishna Nagar located?

The Sub Registrar Office covering Ramakrishna Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.