Guideline Value for Ramakrishnan 1st Street

Ramakrishnan 1st Street guideline value

The current guideline value of Ramakrishnan 1st Street is Rs 3,520 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 - II.

How the guideline value of Ramakrishnan 1st Street has changed

The guideline value for Ramakrishnan 1st Street has undergone several revisions over the years. In 2012, the value was set at Rs 3,200 per sq.ft. This figure decreased to Rs 2,144 per sq.ft in 2017, marking a decline of 33%. However, the value saw a significant increase to Rs 3,200 per sq.ft in 2023, followed by a further rise to Rs 3,520 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2012 to 2024, it has risen by 10%. The latest revision in 2024 places this street’s value below the median of Rs 3,960 per sq.ft for other streets in Porur under the Kunrathur SRO.

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 for these streets is Rs 3,960 per sq.ft. Below are the guideline values for other streets in Porur:

• Ramakrishnan 1st Street Lane: Rs 3,960 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty, charged at 7%, would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Ramakrishnan 1st Street?

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

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 must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Ramakrishnan 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the median guideline value in Porur?

The median guideline value for streets in Porur under the Kunrathur SRO is Rs 3,960 per sq.ft, while Ramakrishnan 1st Street's 2024 value is below this median.

What are the stamp duty rates for properties in Ramakrishnan 1st Street?

The stamp duty for properties in Ramakrishnan 1st Street is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

Where can I find the Sub Registrar Office for Ramakrishnan 1st Street?

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