Guideline Value for Ramakrishnapuram 2nd Street

Ramakrishnapuram 2nd Street guideline value

The current guideline value of Ramakrishnapuram 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ramakrishnapuram 2nd Street has changed

The guideline value for Ramakrishnapuram 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,650 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between these revisions, the changes in guideline value are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a 10% increase.

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 value is Rs 1,650 per sq.ft, which aligns with the 2024 guideline value of Ramakrishnapuram 2nd Street.

• Ramakrishnapuram 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to 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.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ramakrishnapuram 2nd Street?

The Sub Registrar Office that covers Ramakrishnapuram 2nd 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must ensure that the sale price meets or exceeds this value to comply with legal requirements.

Additionally, the guideline value is used to calculate the stamp duty and registration fees applicable during the property transaction. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram 2nd Street?

The current guideline value of Ramakrishnapuram 2nd 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 seen several changes, from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with notable fluctuations in between.

What is the land classification of Ramakrishnapuram 2nd Street?

Ramakrishnapuram 2nd Street is classified as Residential Class I Type - III.

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

The Tambaram Joint 1 Sub Registrar Office covers Ramakrishnapuram 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.