Guideline Value for Ramakrishna Street

Ramakrishna Street guideline value

The current guideline value of Ramakrishna Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramakrishna Street has changed

The guideline value for Ramakrishna Street has seen several revisions over the years. Starting from the earliest revision in 2002, the value was Rs 311 per sq.ft. This increased to Rs 355 per sq.ft in 2003, marking a 14% rise. The value continued to rise significantly, reaching Rs 900 per sq.ft in 2007, which was a 154% increase from the previous year. In 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial increase of 233% from 2007.

Following this, the value decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The most recent revisions saw the value rise again, with the 2023 revision setting it at Rs 3,000 per sq.ft, and the 2024 revision increasing it further to Rs 3,300 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, indicating that the 2024 guideline value for Ramakrishna Street is below that median.

• Ramakrishnpuram 2nd main road: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 3rd street Extension: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 3rd Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 3rd Main road: Rs 3,300 per sq.ft (2024)
• Ramakrishnapuram 2nd Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 1st Street: Rs 3,900 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishna Street?

The Sub Registrar Office covering Ramakrishna Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded accurately in accordance with the prevailing regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ramakrishna Street?

The current guideline value of Ramakrishna Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 311 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 961% over the years.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Other streets in Adambakkam include Ramakrishnpuram 2nd main road, Ramakrishnapuram 3rd street Extension, Ramakrishnapuram 3rd Street, Ramakrishnapuram 3rd Main road, Ramakrishnapuram 2nd Street, and Ramakrishnapuram 1st Street, with values ranging from Rs 3,300 to Rs 3,900 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.