Guideline Value for Ramakrishnapuram 1st Main Road

Ramakrishnapuram 1st Main Road guideline value

The current guideline value of Ramakrishnapuram 1st Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramakrishnapuram 1st Main Road has changed

The guideline value for Ramakrishnapuram 1st Main Road has seen several revisions over the years. In 2002, the value was Rs 259 per sq.ft, which increased to Rs 296 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision.

Between the revisions, the changes were notable. From 2002 to 2024, the overall increase was +1406%. The most significant rise occurred from 2007 to 2012, with an increase of +289%. The value then decreased by -33% from 2012 to 2017. The latest revision from 2023 to 2024 saw an increase of +11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Ramakrishnapuram 1st Main Road.

• Ramakrishnapuram 1st Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 2nd Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 3rd Main road: Rs 3,300 per sq.ft (2024)
• Ramakrishnapuram 3rd Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 3rd street Extension: Rs 3,900 per sq.ft (2024)
• Ramakishna Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnapuram 1st Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramakrishnapuram 1st Main Road?

The Sub Registrar Office that covers Ramakrishnapuram 1st Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Adambakkam. It serves as the basis for calculating the stamp duty and registration fees that must be paid during the registration process. This ensures that both buyers and sellers are aware of the official value assigned to the property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram 1st Main Road?

The current guideline value of Ramakrishnapuram 1st Main Road is Rs 3,900 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 259 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of +1406%.

What is the stamp duty for properties on Ramakrishnapuram 1st Main Road?

The stamp duty for properties on Ramakrishnapuram 1st Main Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Ramakrishnapuram 1st Main Road?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Ramakrishnapuram 1st Main Road?

The land classification for Ramakrishnapuram 1st Main Road is Residential Class I Type - III.