Guideline Value for Ramakrishna Thiru-vi-ka Link Road

Ramakrishna Thiru-vi-ka Link Road guideline value

The current guideline value of Ramakrishna Thiru-vi-ka Link Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Ramakrishna Thiru-vi-ka Link Road has changed

Over the years, the guideline value of Ramakrishna Thiru-vi-ka Link Road has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value rose by 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which means that the guideline value of Ramakrishna Thiru-vi-ka Link Road is below this median.

• Rajeev Gandhi Nagar 7th Street: Rs 2,500 per sq.ft (2024)
• Rajeev Gandhi Nagar 6th Street: Rs 2,500 per sq.ft (2024)
• Rajeev Gandhi Nagar 5th Street: Rs 2,500 per sq.ft (2024)
• Rajeev Gandhi Nagar 5th Main Road: Rs 2,500 per sq.ft (2024)
• Rajeev Gandhi Nagar 4th Street: Rs 2,500 per sq.ft (2024)
• Rajeev Gandhi Nagar 4th Main Road: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishna Thiru-vi-ka Link Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishna Thiru-vi-ka Link Road?

The Ramakrishna Thiru-vi-ka Link Road is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Erukancherry. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ramakrishna Thiru-vi-ka Link Road?

The current guideline value of Ramakrishna Thiru-vi-ka Link Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Ramakrishna Thiru-vi-ka Link Road?

Ramakrishna Thiru-vi-ka Link Road is classified as Residential Class IV Type - I.

What are the stamp duty rates for property in this area?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.