Guideline Value for Ramakrishna Nagar

Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Salamangalam village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

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 100 per sq.ft, which increased significantly to Rs 300 per sq.ft in the 2012 revision. However, the 2017 revision marked a decrease to Rs 201 per sq.ft, before rising again to Rs 300 per sq.ft in both the 2023 and 2024 revisions. It is important to note that the register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a substantial increase of 49%, while the overall change from 2007 to 2024 reflects a 200% increase. The guideline value has remained stable at Rs 300 per sq.ft from 2023 to 2024, indicating no change during this period.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 3,100 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value of Ramakrishna Nagar is below this median.

• Ramesh Garden: Rs 400 per sq.ft (2024)
• Sai Krithika Garden: Rs 469 per sq.ft (2024)
• Pranav Orchid: Rs 600 per sq.ft (2024)
• Sakthi Nagar: Rs 400 per sq.ft (2024)
• Saravanan Nagar: Rs 300 per sq.ft (2024)
• Padmavathy Nagar (Padmavathy Avenue): Rs 400 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees together to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishna Nagar?

The Ramakrishna Nagar area is covered by 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 Salamangalam

The guideline value is a crucial factor in the registration of property transactions in Salamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware of the guideline value to ensure compliance with legal requirements 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 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2007, increasing to Rs 300 per sq.ft in 2012, then decreasing to Rs 201 per sq.ft in 2017, and finally stabilizing at Rs 300 per sq.ft from 2023 to 2024.

What is the land classification of Ramakrishna Nagar?

Ramakrishna Nagar is classified as Residential Class II Type - I, 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 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which office handles registrations for Ramakrishna Nagar?

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