Guideline Value for Ramakrishnan Street

Ramakrishnan Street guideline value

The current guideline value of Ramakrishnan Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Ramakrishnan Street has changed

Over the years, the guideline value of Ramakrishnan Street has seen significant changes. In the 2007 revision, the value was Rs 2,500 per sq.ft, which increased to Rs 6,000 per sq.ft in the 2012 revision, reflecting a rise of 140%. However, this value dropped to Rs 4,020 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision saw a substantial increase to Rs 6,000 per sq.ft, followed by a further rise to the current value of Rs 6,600 per sq.ft in the 2024 revision, marking a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 164%.

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, with a median value of Rs 3,300 per sq.ft. Ramakrishnan Street's current guideline value is above this median.

• Ramakrishnan Nagar: Rs 1,320 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost together to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramakrishnan Street?

The Sub Registrar Office that covers Ramakrishnan Street 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 when registering property transactions in Tambaram. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial obligations related to the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Ramakrishnan Street?

The current guideline value of Ramakrishnan Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,500 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, with various revisions in between showing both increases and decreases.

What is the land classification of Ramakrishnan Street?

Ramakrishnan Street is classified as Commercial Class I Type - II, which affects its guideline value and potential uses.

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

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

How is stamp duty calculated for property in Ramakrishnan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.