Guideline Value for Ramakrishna Nagar

Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village under the Ambattur SRO, classified as Residential Class V Type - I.

How the guideline value of Ramakrishna Nagar has changed

The guideline value for Ramakrishna Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, marking a rise of 113%. The most recent revision in 2024 has set the value at Rs 1,002 per sq.ft, reflecting no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 43%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO carrying a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Ramakrishna Nagar is below this median.

• Ramadas Street: Rs 1,300 per sq.ft (2024)
• Ramakrishnan Avenue: Rs 1,001 per sq.ft (2024)
• Ramakrishnan Street: Rs 1,001 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,300 per sq.ft (2024)
• Rajaram Colony: Rs 1,001 per sq.ft (2024)
• Raja Rajeswari Nagar: Rs 1,002 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 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total cost to Rs 90,180. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Ramakrishna Nagar?

The Sub Registrar Office that covers Ramakrishna Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Menambedu. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is compliant with local regulations.

When buying or selling property, the guideline value is considered the minimum value for the transaction, and the stamp duty is calculated based on this value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar?

The current guideline value of Ramakrishna Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 1,002 per sq.ft in 2024, with a notable increase of 43% overall during this period.

What is the land classification of Ramakrishna Nagar?

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

Where can I find the Sub Registrar Office for Ramakrishna Nagar?

The Sub Registrar Office for Ramakrishna Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Ramakrishna Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,02,000, the stamp duty would be Rs 70,140 at 7%.