Guideline Value for Ramakrishna Street, Pasumpon Nagar

Ramakrishna Street, Pasumpon Nagar guideline value

The current guideline value of Ramakrishna Street, Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ramakrishna Street, Pasumpon Nagar has changed

The guideline value for Ramakrishna Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is an increase from Rs 1,800 per sq.ft in the 2023 revision, reflecting a change of +10%. Prior to that, in 2017, the guideline value was Rs 1,206 per sq.ft, marking a significant increase of +49% to the 2023 figure. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by +64%. This shows a consistent rise in the guideline value over the years, with the most recent revision indicating a positive trend in valuation.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which means that Ramakrishna Street's 2024 figure is below this median.

• Ramakrishnan Street / Gokulum Colony: Rs 2,750 per sq.ft (2024)
• Ramakrishna Iyer Street: Rs 1,980 per sq.ft (2024)
• Ramadoss Street, Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Ramanathan Street/ Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Ramanathan Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Ramadevi Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Street, Pasumpon Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the 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 Street, Pasumpon Nagar?

The Pammal Sub Registrar Office covers Ramakrishna Street, Pasumpon Nagar. The office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property in Pammal as it determines the minimum value on which stamp duty and registration fees are calculated. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, the buyer must provide the guideline value to the Sub Registrar Office, which will then calculate the applicable fees based on this value or the sale price, whichever is higher. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Ramakrishna Street, Pasumpon Nagar?

The current guideline value of Ramakrishna Street, Pasumpon Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of +64%. The most recent change from 2023 to 2024 was +10%.

What are the other streets in Pammal with their guideline values?

Other streets in Pammal include Ramakrishnan Street / Gokulum Colony at Rs 2,750 per sq.ft, Ramakrishna Iyer Street at Rs 1,980 per sq.ft, and Ramadoss Street, Gandhi Nagar at Rs 2,475 per sq.ft, among others.

What is the registration fee for property in Ramakrishna Street?

The registration fee for property in Ramakrishna Street is 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the registration fee would be Rs 39,600.

Where is the Sub Registrar Office for Ramakrishna Street located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.