Guideline Value for Ramakrishnan 2nd Street

Ramakrishnan 2nd Street guideline value

The current guideline value of Ramakrishnan 2nd 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 2nd Street has changed

Since the 2012 revision, the guideline value for Ramakrishnan 2nd Street has seen various changes. In 2012, the guideline value was Rs 3,200 per sq.ft, which decreased to Rs 2,144 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 3,200 per sq.ft. The most recent revision in 2024 shows a further increase to Rs 3,520 per sq.ft, marking a 10% rise from the previous year.

The guideline value register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 guideline value for these streets is Rs 3,960 per sq.ft, placing Ramakrishnan 2nd Street's 2024 figure below that median.

• Ramakrishnan 1st Street Lane: Rs 3,960 per sq.ft (2024)
• Ramakrishnan 1st 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 2nd 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 at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, leading to a total cost of Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ramakrishnan 2nd Street?

The Sub Registrar Office that covers Ramakrishnan 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

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

When a property is sold, the guideline value is assessed to ensure that the registration fees are calculated accurately. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramakrishnan 2nd Street?

The current guideline value of Ramakrishnan 2nd 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 back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What are the other streets in Porur with similar guideline values?

Other streets in Porur with guideline values include Ramakrishnan 1st Street Lane at Rs 3,960 per sq.ft, Ramakrishnan 1st Street at Rs 3,520 per sq.ft, and Ramakrishna Main Road at Rs 3,520 per sq.ft, among others.

How is the stamp duty calculated for properties in Ramakrishnan 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 35,20,000, leading to a stamp duty of Rs 2,46,400.

Where can I find the Sub Registrar Office for Ramakrishnan 2nd Street?

The Sub Registrar Office for Ramakrishnan 2nd Street is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details online.