Guideline Value for Ramakrishnan Nagar

Ramakrishnan Nagar guideline value

The current guideline value of Ramakrishnan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ramakrishnan Nagar has changed

Looking back at the revisions, the guideline value for Ramakrishnan Nagar was Rs 1,200 per sq.ft in 2023, which increased to Rs 1,320 per sq.ft in 2024, reflecting a change of +10%. Prior to that, the 2017 revision set the value at Rs 804 per sq.ft, marking a significant increase of +49% to reach the 2023 figure. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, which was a decrease of -33% from the 2017 figure.

There are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, and Ramakrishnan Nagar's 2024 figure is below that median.

• Ramakrishnan Street: Rs 6,600 per sq.ft (2024)
• Ramakrishna Nagar Extension: Rs 1,320 per sq.ft (2024)
• Raju Street: Rs 2,200 per sq.ft (2024)
• Rajmohan Nagar: Rs 2,200 per sq.ft (2024)
• Ramasamy Pandithar Street: Rs 2,200 per sq.ft (2024)
• Ramasamy Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It's important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishnan Nagar?

The Sub Registrar Office that covers Ramakrishnan Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the Registration Department. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Ramakrishnan Nagar?

The current guideline value of Ramakrishnan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of +10% from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The value also increased from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023.

What are the guideline values of other streets in Tambaram?

Other streets in Tambaram have varying guideline values. For example, Ramakrishnan Street is valued at Rs 6,600 per sq.ft, while Raju Street and Rajmohan Nagar are both at Rs 2,200 per sq.ft.

What is the stamp duty for property in Ramakrishnan Nagar?

The stamp duty for property in Ramakrishnan Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.

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

The Sub Registrar Office for Ramakrishnan Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.