Guideline Value for Ramakrishnapuram 3rd Main Road

Ramakrishnapuram 3rd Main Road guideline value

The current guideline value of Ramakrishnapuram 3rd Main Road is Rs 3,850 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 Special Type - II.

How the guideline value of Ramakrishnapuram 3rd Main Road has changed

The guideline value for Ramakrishnapuram 3rd Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from Rs 2,345 per sq.ft in the 2017 revision. The value remained at Rs 3,500 per sq.ft until the 2023 revision, which increased it to Rs 3,500 per sq.ft. The most recent 2024 revision has raised the guideline value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street.

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 guideline value for these streets is Rs 1,650 per sq.ft, placing the Ramakrishnapuram 3rd Main Road guideline value above this median.

• Ramakrishnapuram 2nd Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram 6th Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram 1st 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 3rd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that 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 3rd Main Road?

The Sub Registrar Office that covers Ramakrishnapuram 3rd Main Road 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 is an essential factor when buying or selling property in Chitlapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram 3rd Main Road?

The current guideline value of Ramakrishnapuram 3rd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, representing a 10% increase. The value was Rs 3,500 per sq.ft in 2012 and Rs 2,345 per sq.ft in 2017.

What is the registration office for this area?

The registration office for Ramakrishnapuram 3rd Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Ramakrishnapuram 3rd Main Road is charged at 7% of the guideline value or sale price, whichever is higher.

Are there other streets with guideline values in Chitlapakkam?

Yes, there are several other streets in Chitlapakkam with guideline values, including Ramakrishnapuram 2nd Street, 6th Street, 1st Street, 7th Street, and Kambar Street, all valued at Rs 1,650 per sq.ft in 2024.