Guideline Value for Ramakrishnapuram 2nd Street

Ramakrishnapuram 2nd Street guideline value

The current guideline value of Ramakrishnapuram 2nd Street is Rs 7,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO and is classified as Residential Class I Type - III.

How the guideline value of Ramakrishnapuram 2nd Street has changed

In the 2007 revision, the guideline value was Rs 1,860 per sq.ft. This figure saw a significant increase in the 2012 revision, which raised the value to Rs 7,000 per sq.ft, marking an increase of 276%. The latest revision in 2024 further increased the guideline value to Rs 7,600 per sq.ft, reflecting a 9% rise from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 309%. It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023 for this street.

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, making the 2024 guideline value of Ramakrishnapuram 2nd Street above this median.

• Ramakrishnapuram 1st Street: Rs 7,700 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,600 per sq.ft, the guideline value amounts to Rs 76,00,000. The stamp duty at 7% would be Rs 5,32,000, and the registration fee at 2% would be Rs 1,52,000, totaling Rs 6,84,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ramakrishnapuram 2nd Street?

The Sub Registrar Office that covers Ramakrishnapuram 2nd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that are applicable when registering a property sale.

When you buy or sell property, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Ramakrishnapuram 2nd Street is Rs 7,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 309% to the current figure of Rs 7,600 per sq.ft in 2024. The most significant increase occurred between 2007 and 2012, where the value rose by 276%.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a property valued at Rs 76,00,000 would incur a total fee of Rs 6,84,000.

Which Sub Registrar Office is responsible for Ramakrishnapuram 2nd Street?

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

What is the land classification for Ramakrishnapuram 2nd Street?

Ramakrishnapuram 2nd Street is classified as Residential Class I Type - III, indicating its zoning for residential purposes.