Guideline Value for Ramakrishnan Street

Ramakrishnan Street guideline value

The current guideline value of Ramakrishnan Street in Kodungaiyur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class I 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 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest revision in 2024 has increased the value back to Rs 2,700 per sq.ft, reflecting a significant rise of 61% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not have figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Ramakrishnan Street.

• Ramakrishanan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Rajiv Street: Rs 2,200 per sq.ft (2024)
• Ramasamy Nagar Thottam: Rs 2,700 per sq.ft (2024)
• Rajiv Gandhi Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Rajiv Gandhi Nagar 4th Cross Street: Rs 2,200 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for duty and registration Rs 2,43,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishnan Street?

The Sub Registrar Office that covers Ramakrishnan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical component in the registration process when buying or selling property in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ramakrishnan Street?

The current guideline value of Ramakrishnan Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on Ramakrishnan Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Ramakrishnan Street?

The Madhavaram Sub Registrar Office handles registrations for Ramakrishnan Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

Where can I find more information about guideline values in Kodungaiyur?

More information about guideline values in Kodungaiyur can be found in the registration department's guideline value register, which details the values for various streets in the area.