Guideline Value for Ramakrishna Street

Ramakrishna Street guideline value

The current guideline value of Ramakrishna Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ramakrishna Street has changed

The guideline value for Ramakrishna Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,038 per sq.ft, which increased to Rs 1,134 per sq.ft in 2003. Following this, the value rose to Rs 1,350 per sq.ft in 2007, and further increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then saw a significant increase to Rs 3,500 per sq.ft in 2023, and most recently, it has been revised to Rs 3,850 per sq.ft in 2024.

The changes between these revisions reflect a variety of adjustments. From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 10%. Notably, there were significant fluctuations, such as a 159% increase from 2007 to 2012 and a 33% decrease from 2012 to 2017. Overall, the guideline value has increased by 271% from 2002 to 2024.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, making the 2024 figure for Ramakrishna Street below this median.

• Ramalakshmanan Street: Rs 3,850 per sq.ft (2024)
• Ramar Street (Sri Ram Street): Rs 4,950 per sq.ft (2024)
• Ramasamy Nagar: Rs 4,400 per sq.ft (2024)
• Ramasamy Nagar - Kushaldas Road: Rs 4,400 per sq.ft (2024)
• Ramasamy Nagar - Navaneethamal Road: Rs 4,400 per sq.ft (2024)
• Rajeswari Street: Rs 4,400 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or 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 that covers Ramakrishna Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Saligramam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When a property is bought or sold, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ramakrishna Street?

The current guideline value of Ramakrishna Street is Rs 3,850 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 1,038 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 271% over this period.

What is the land classification for Ramakrishna Street?

Ramakrishna Street is classified as Residential Class II Type - II, indicating its designation for residential use within the locality.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Ramakrishna Street?

The Virugambakkam Sub Registrar Office handles property registrations for Ramakrishna Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.