Guideline Value for Ramakrishnapuram 1st Street

Ramakrishnapuram 1st Street guideline value

The current guideline value of Ramakrishnapuram 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street 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 Street has changed

The guideline value for Ramakrishnapuram 1st Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 259 per sq.ft. This increased to Rs 296 per sq.ft in 2003, marking a change of +14%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, which represents an increase of +238%. In 2012, the value was revised to Rs 3,500 per sq.ft, showing a sharp increase of +250% from the previous revision. However, this figure decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of -33%.

From 2017 to 2023, the guideline value increased to Rs 3,500 per sq.ft, a rise of +49%. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, which is an increase of +11% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +1406%.

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 guideline value is Rs 3,900 per sq.ft, which is equal to the current figure for Ramakrishnapuram 1st Street.

• Ramakrishnapuram 1st Main Road: 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)
• Ramakishnapuram 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total 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, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishnapuram 1st Street?

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

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

The guideline value is a crucial reference point during property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency and fairness in property dealings 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 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, reflecting an overall increase of +1406% over this period.

What is the land classification for Ramakrishnapuram 1st Street?

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

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Ramakrishnapuram 1st Street?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, handles property registrations for Ramakrishnapuram 1st Street.