Guideline Value for Ramakrishna Street

Ramakrishna Street guideline value

The current guideline value of Ramakrishna Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Mixed Type - I land.

How the guideline value of Ramakrishna Street has changed

The guideline value for Ramakrishna Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which saw a significant increase to Rs 4,000 per sq.ft in 2012, marking a rise of 471%. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 529%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this village is Rs 2,970 per sq.ft, placing Ramakrishna Street's 2024 value above that median.

• Ramalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Ramamurthy Street: Rs 2,970 per sq.ft (2024)
• Raman 1st Street: Rs 2,970 per sq.ft (2024)
• Ramachandra Street: Rs 4,400 per sq.ft (2024)
• Raman Street: Rs 2,970 per sq.ft (2024)
• Ramanujam Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishna Street?

The Sub Registrar Office that covers Ramakrishna Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Hastinapuram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the fees are calculated based on a standardized value, which helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Ramakrishna Street?

The current guideline value of Ramakrishna Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 529% over this period.

What are the stamp duty and registration fees for properties on Ramakrishna Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Ramakrishna Street?

The Pallavaram Sub Registrar Office handles the registration for Ramakrishna Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Ramakrishna Street?

Ramakrishna Street is classified as Mixed Type - I land, which indicates a combination of residential and commercial uses.