Guideline Value for Ramakrishnan Street

Ramakrishnan Street guideline value

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

How the guideline value of Ramakrishnan Street has changed

The guideline value for Ramakrishnan Street has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which increased to Rs 536 per sq.ft in 2017. This was a decrease of 33%. Subsequently, the value rose to Rs 1,000 per sq.ft in 2023, marking an increase of 87%. The most recent revision in 2024 has set the value at Rs 1,001 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. 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 that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value of Ramakrishnan Street is below this median.

• Ramakrishnan Avenue: 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 Street

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 to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value and 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 covering Ramakrishnan Street 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 more information.

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

The guideline value is a critical factor during the registration of property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramakrishnan Street?

The current guideline value of Ramakrishnan Street 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, showing an overall increase of 25% over this period.

What are the other streets in Menambedu with their guideline values?

Other streets in Menambedu include Ramakrishnan Avenue 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.

What is the stamp duty rate for properties in Ramakrishnan Street?

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

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

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