Guideline Value for Ramakrishna Nagar

Ramakrishna Nagar guideline value

The current guideline value of Ramakrishna Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO and is classified as Residential Class III 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 2002, the value was Rs 532 per sq.ft. It then decreased to Rs 54 per sq.ft in 2003, followed by an increase to Rs 200 per sq.ft in 2007. The value further rose to Rs 700 per sq.ft in 2012, but then dropped to Rs 469 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,000 per sq.ft in 2023 and a further rise to Rs 1,102 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, there was a decrease of 90%. However, from 2003 to 2007, the value increased by 270%. The period from 2007 to 2012 saw a rise of 250%, followed by a decrease of 33% from 2012 to 2017. The value jumped by 113% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 107%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, which is the same as the guideline value for Ramakrishna Nagar.

• Rajesh Avenue: Rs 1,102 per sq.ft (2024)
• Ram Nagar: Rs 1,102 per sq.ft (2024)
• Raghavendra Nagar Part-II: Rs 1,650 per sq.ft (2024)
• Ragavendra Nagar Part - 1: Rs 1,650 per sq.ft (2024)
• Ragavendra Nagar: Rs 1,650 per sq.ft (2024)
• Puzhal Samathuvapuram: Rs 1,102 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 1,102 per sq.ft, the total guideline value would be Rs 11,02,000. The stamp duty at 7% would amount to Rs 77,140, and the registration fee at 2% would be Rs 22,040, bringing the total fees together to Rs 99,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Puzhal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ramakrishna Nagar?

The current guideline value of Ramakrishna Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 532 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, showing various increases and decreases through the years.

What is the registration fee for property in Ramakrishna Nagar?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 11,02,000, the registration fee would be Rs 22,040.

Where is the Sub Registrar Office for Ramakrishna Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration price for properties and is essential for calculating stamp duty and registration fees during property transactions.