Guideline Value for Ramakrishna Nagar

Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024. This street is located in Madanandapuram village, under the jurisdiction of the Kunrathur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Ramakrishna Nagar has changed

The guideline value for Ramakrishna Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 2,900 per sq.ft in 2012. However, it then decreased to Rs 1,943 per sq.ft in 2017. The value saw a substantial rise to Rs 2,900 per sq.ft in 2023, and finally, it stands at Rs 3,190 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

Between the revisions, the changes were notable. From 2007 to 2012, there was an increase of 263%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 299%.

Guideline values in Madanandapuram

Madanandapuram has 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median value of Rs 3,520 per sq.ft. The guideline value for Ramakrishna Nagar is below this median.

• Ramachandra Nagar: Rs 3,960 per sq.ft (2024)
• Rajeswari Avenue: Rs 3,960 per sq.ft (2024)
• Ramji Nagar: Rs 3,190 per sq.ft (2024)
• Ramya Nagar: Rs 3,960 per sq.ft (2024)
• Ramya Nagar Extension: Rs 3,960 per sq.ft (2024)
• Ramya Nagar Extension II: Rs 3,960 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 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. It's important to note that the 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 details.

Which Sub Registrar Office covers Ramakrishna Nagar?

The Sub Registrar Office that covers Ramakrishna Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in this area.

When a property transaction occurs, the guideline value is assessed to calculate the applicable duties. Buyers should be aware that the stamp duty is charged based on either the guideline value or the sale price, whichever is higher, ensuring that the state receives the 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 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, marking an overall increase of 299% over this period.

What is the median guideline value in Madanandapuram?

The median guideline value in Madanandapuram is Rs 3,520 per sq.ft, with Ramakrishna Nagar's value being below this median.

What are the stamp duty and registration fees for property in Ramakrishna Nagar?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,87,100.

Which office handles property registration for Ramakrishna Nagar?

The Kunrathur Sub Registrar Office handles property registration for Ramakrishna Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.