Guideline Value for Ramakrishnapuram 1st Street

Ramakrishnapuram 1st Street guideline value

The current guideline value of Ramakrishnapuram 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramakrishnapuram 1st Street has changed

The guideline value for Ramakrishnapuram 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it was adjusted to Rs 1,005 per sq.ft, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from the 2012 revision to the current 2024 value, there has been a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which aligns with the current value of Ramakrishnapuram 1st Street.

• Ramakrishnapuram 2nd Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Ramakrishnapuram 6th Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram 7th Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram Kambar Street: Rs 1,650 per sq.ft (2024)
• RamaKrishna street,santhi avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ramakrishnapuram 1st Street?

The Sub Registrar Office that covers Ramakrishnapuram 1st 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that all transactions are conducted in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property registration. This value helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram 1st Street?

The current guideline value of Ramakrishnapuram 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a 10% increase. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Ramakrishnapuram 1st Street?

The land classification for Ramakrishnapuram 1st Street is Residential Class I Type - III, indicating its suitability for residential development.

Where is the Sub Registrar Office located for this street?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft would incur a total guideline value of Rs 16,50,000, leading to specific fees based on that amount.