Guideline Value for Ramakrishnapuram 3rd Street

Ramakrishnapuram 3rd Street guideline value

The current guideline value of Ramakrishnapuram 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramakrishnapuram 3rd Street has changed

The guideline value for Ramakrishnapuram 3rd Street has seen several revisions over the years. In 2002, the guideline value was Rs 259 per sq.ft. This increased to Rs 296 per sq.ft in 2003, marking a 14% rise. The value then saw a significant increase to Rs 900 per sq.ft in 2007, which was a 204% change. In 2012, the value remained at Rs 3,500 per sq.ft, reflecting no figure for this street in that year. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the value surged to Rs 3,500 per sq.ft, showing a 49% increase, and the most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,406%. There are no figures available for revisions in the years not listed above.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is the same as the current value for Ramakrishnapuram 3rd Street.

• Ramakrishnapuram 3rd Main road: Rs 3,300 per sq.ft (2024)
• Ramakrishnapuram 3rd street Extension: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 2nd Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 1st Street: Rs 3,900 per sq.ft (2024)
• Ramakkrishnapuram 1st Main Road: 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 3rd 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, resulting in a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Ramakrishnapuram 3rd Street?

The Sub Registrar Office that covers Ramakrishnapuram 3rd 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 plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are recorded at a fair value. This value is essential for calculating the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram 3rd Street?

The current guideline value of Ramakrishnapuram 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 259 per sq.ft to Rs 3,900 per sq.ft in 2024, representing an overall increase of 1,406%.

What is the land classification for Ramakrishnapuram 3rd Street?

The land classification for Ramakrishnapuram 3rd Street is Residential Class I Type - III.

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

The Sub Registrar Office for Ramakrishnapuram 3rd Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Ramakrishnapuram 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.