Guideline Value for Ramakrishnan Avenue

Ramakrishnan Avenue guideline value

The current guideline value of Ramakrishnan Avenue is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village, under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of Ramakrishnan Avenue has changed

The guideline value for Ramakrishnan Avenue has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,001 per sq.ft, which is a slight increase from Rs 1,000 per sq.ft in 2023. Prior to that, the value was Rs 536 per sq.ft in 2017 and Rs 800 per sq.ft in 2012. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 87% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, making the current value for Ramakrishnan Avenue below the median.

• Ramakrishnan Street: Rs 1,001 per sq.ft (2024)
• Ramakrishna Nagar: Rs 1,002 per sq.ft (2024)
• Ramadas Street: Rs 1,300 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,300 per sq.ft (2024)
• Rajaram Colony: Rs 1,001 per sq.ft (2024)
• Raja Rajeswari Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total cost for these fees to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishnan Avenue?

The Sub Registrar Office that covers Ramakrishnan Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for additional details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ramakrishnan Avenue?

The current guideline value of Ramakrishnan Avenue is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 25% over this period.

What is the stamp duty for properties in Ramakrishnan Avenue?

The stamp duty for properties in Ramakrishnan Avenue is calculated at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ramakrishnan Avenue?

The Sub Registrar Office for Ramakrishnan Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the other streets in Menambedu with guideline values?

Other streets in Menambedu with guideline values include Ramakrishnan Street at Rs 1,001 per sq.ft, Ramakrishna Nagar at Rs 1,002 per sq.ft, and Ramadas Street at Rs 1,300 per sq.ft, among others.