Guideline Value for Ramakrishnapuram 2nd Street

Ramakrishnapuram 2nd Street guideline value

The current guideline value of Ramakrishnapuram 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur 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. In 2002, the value was Rs 259 per sq.ft, which increased to Rs 296 per sq.ft in 2003, marking a 14% rise. The value saw a significant jump to Rs 1,000 per sq.ft in 2007, reflecting a 238% increase. By 2012, the value adjusted to Rs 3,500 per sq.ft, resulting in a 250% increase from the previous revision. However, it decreased by 33% to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally, it rose by 11% to the current figure of Rs 3,900 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1,406%. The register does not have figures for the years between 2012 and 2017 for this street.

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 guideline value of Ramakrishnapuram 2nd Street.

• Ramakrishnapuram 1st Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 3rd Main road: Rs 3,300 per sq.ft (2024)
• Ramakrishnapuram 1st Main Road: Rs 3,900 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 2nd 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, making the total cost for these fees Rs 3,51,000. 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 detailed calculations.

Which Sub Registrar Office covers Ramakrishnapuram 2nd Street?

The Sub Registrar Office that covers Ramakrishnapuram 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration. The guideline value is used to ensure that the transaction is recorded at a standard rate, which helps in maintaining transparency in property transactions.

When you buy or sell property, the guideline value helps in establishing the official value of the property for taxation purposes. It is crucial to be aware of the current guideline value to ensure that all fees are calculated accurately and 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 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 259 per sq.ft in 2002 to the current value of Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,406%.

What is the land classification of Ramakrishnapuram 2nd Street?

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

Where is the Alandur Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Ramakrishnapuram 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,73,000.