Guideline Value for Ramakrishnan 1st Street Lane

Ramakrishnan 1st Street Lane guideline value

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

How the guideline value of Ramakrishnan 1st Street Lane has changed

Over the years, the guideline value for Ramakrishnan 1st Street Lane has seen several revisions. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 3,600 per sq.ft in the 2023 revision, followed by the current value of Rs 3,960 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the current 2024 value, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, which is equal to the 2024 guideline value for Ramakrishnan 1st Street Lane. Below are the guideline values for other streets in Porur:

• Ramakrishnan 1st Street: Rs 3,520 per sq.ft (2024)
• Ramakrishnan 2nd Street: Rs 3,520 per sq.ft (2024)
• Ramakrishna Main Road: Rs 3,520 per sq.ft (2024)
• Ramakrishna Nagar 1st Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar 3rd Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnan 1st Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total 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, resulting in a total of 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramakrishnan 1st Street Lane?

The Sub Registrar Office that covers Ramakrishnan 1st Street Lane is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For further assistance, you can find your SRO online.

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

The guideline value is a crucial reference for property transactions in Porur. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This value ensures that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value serves as a baseline for calculating the applicable duties. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring transparency in the registration process.

Frequently asked questions

What is the current guideline value of Ramakrishnan 1st Street Lane?

The current guideline value of Ramakrishnan 1st Street Lane 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 from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012, showing significant fluctuations over the years.

What are the stamp duty and registration fees for property in this area?

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. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office is responsible for Ramakrishnan 1st Street Lane?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, is responsible for transactions in Ramakrishnan 1st Street Lane.

What is the land classification for Ramakrishnan 1st Street Lane?

Ramakrishnan 1st Street Lane is classified as Residential Special Type - I, indicating its designation for residential purposes.