Guideline Value for Ramakrishna Street

Ramakrishna Street guideline value

The current guideline value of Ramakrishna Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ramakrishna Street has changed

The guideline value for Ramakrishna Street has seen significant changes over the years. In 2002, the value was Rs 513 per sq.ft, which increased to Rs 568 per sq.ft in 2003. Following this, the value rose to Rs 1,000 per sq.ft in 2007, marking a substantial increase of 76%. The value then jumped to Rs 3,600 per sq.ft in 2012, reflecting a 260% increase from the previous revision. However, it decreased to Rs 2,412 per sq.ft in 2017, a decline of 33%. The value saw a notable rise again to Rs 3,600 per sq.ft in 2023, followed by the current value of Rs 3,960 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years not mentioned in the register. Overall, from 2002 to 2024, the guideline value has increased by 672%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, making Ramakrishna Street's current value equal to this median.

• Ramakrishna Nagar - Lane (Kalathu Medu): Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar Extn Main Road: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar Extension I: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar /Annex: Rs 3,520 per sq.ft (2024)
• Ramakrishna Nagar 7th Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 6th Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Street

For a 1,000 sq.ft plot at the current rate of Rs 3,960 per sq.ft, the guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramakrishna Street?

The Sub Registrar Office that covers Ramakrishna Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in maintaining transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Ramakrishna Street?

The current guideline value of Ramakrishna Street is Rs 3,960 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 513 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, an overall increase of 672%.

What is the land classification for Ramakrishna Street?

Ramakrishna Street is classified as Residential Special Type - I.

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

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which office handles registrations for Ramakrishna Street?

The Kunrathur Sub Registrar Office handles registrations for Ramakrishna Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.