Guideline Value for Ramakrishna Nagar

Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Ramakrishna Nagar has changed

The guideline value for Ramakrishna Nagar has seen several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, by 2017, the value dropped to Rs 469 per sq.ft. The 2023 revision saw a rise to Rs 700 per sq.ft, and the most recent revision in 2024 set the value at Rs 770 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 1440%. The changes between revisions include a 1300% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of Ramakrishna Nagar is below this median.

• Ramani Iyer Nagar: Rs 440 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 990 per sq.ft (2024)
• Ranganathapuram: Rs 880 per sq.ft (2024)
• Ranganathapuram Colony Extn I to III: Rs 880 per sq.ft (2024)
• Rahmaniya Nagar Phase - II: Rs 770 per sq.ft (2024)
• Rahmaniya Nagar: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total fees Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nandambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps to determine the legal value of the property for registration purposes. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 1440% over the period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000, with stamp duty at Rs 53,900 and registration fee at Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Ramakrishna Nagar?

The Padappai Sub Registrar Office covers Ramakrishna Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It serves as a legal benchmark for the property’s value at the time of registration.