Guideline Value for Ramakrishnan Street / Gokulum Colony

Ramakrishnan Street / Gokulum Colony guideline value

The current guideline value of Ramakrishnan Street / Gokulum Colony is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Ramakrishnan Street / Gokulum Colony has changed

The guideline value for Ramakrishnan Street / Gokulum Colony has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft. This increased to Rs 226 per sq.ft in 2003, marking a 13% rise. By 2007, the value jumped to Rs 360 per sq.ft, representing a 59% increase from the previous revision. The 2017 revision saw a substantial increase to Rs 1,675 per sq.ft, which is a 365% increase from 2007. In 2023, the value further rose to Rs 2,500 per sq.ft, showing a 49% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from 2023. The register has no figure for this street in 2012.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, which means the 2024 figure for Ramakrishnan Street / Gokulum Colony is above this median.

• Ramakrishna Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Ramakrishna Iyer Street: Rs 1,980 per sq.ft (2024)
• Ramadoss Street, Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Ramadevi Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Ramadass Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)
• Ramadass Street/ Ganapathy Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnan Street / Gokulum Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the 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 more details.

Which Sub Registrar Office covers Ramakrishnan Street / Gokulum Colony?

The Sub Registrar Office that covers Ramakrishnan Street / Gokulum Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Pammal, the guideline value is used to determine the stamp duty and registration fees that need to be paid. The guideline value serves as a benchmark for the property’s value, ensuring that the government receives the appropriate revenue from the transaction.

It is essential to be aware that the guideline value may differ from the actual sale price. In such cases, the stamp duty is charged on the higher of the two values, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ramakrishnan Street / Gokulum Colony?

The current guideline value of Ramakrishnan Street / Gokulum Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 200 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 1275%.

What are the other streets in Pammal and their guideline values?

Other streets in Pammal have varying guideline values, with Ramakrishna Street, Pasumpon Nagar and Ramakrishna Iyer Street both at Rs 1,980 per sq.ft, and Ramadoss Street, Gandhi Nagar at Rs 2,475 per sq.ft, among others.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated in Pammal?

Stamp duty in Pammal is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7% of the guideline value.