Guideline Value for Ramakrishnapuram 1st Street

Ramakrishnapuram 1st Street guideline value

The current guideline value of Ramakrishnapuram 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, classified as Mixed Type - II.

How the guideline value of Ramakrishnapuram 1st Street has changed

The guideline value for Ramakrishnapuram 1st Street has undergone several revisions since 2007. The 2007 revision set the value at Rs 1,860 per sq.ft, which saw a significant increase to Rs 7,000 per sq.ft in the 2012 revision, marking a change of +276%. The most recent revision in 2024 raised the guideline value to Rs 7,700 per sq.ft, reflecting a +10% increase from the 2012 figure.

It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +314%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing the 2024 guideline value of Ramakrishnapuram 1st Street above this median.

• Ramakrishnapuram 2nd Street: Rs 7,600 per sq.ft (2024)
• Ramakrishnapuram 3rd Street: Rs 7,700 per sq.ft (2024)
• Ramaiya Street: Rs 4,100 per sq.ft (2024)
• Ramachandran Street (w.M): Rs 5,500 per sq.ft (2024)
• Ramachandran Street (JPT): Rs 4,100 per sq.ft (2024)
• Rajunaicken Street (Raju St): Rs 6,600 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 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our 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 Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value when negotiating sale prices, as the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Ramakrishnapuram 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,860 per sq.ft to Rs 7,700 per sq.ft in 2024. This represents a total increase of +314% over the years.

What is the land classification for Ramakrishnapuram 1st Street?

Ramakrishnapuram 1st Street is classified as Mixed Type - II, which indicates the type of development and usage permitted in this area.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Ramakrishnapuram 1st Street is 7%, which is applied to the higher of the guideline value or the sale price during registration.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Ramakrishnapuram 1st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.