Guideline Value for Ramakrishnapuram 3rd Street

Ramakrishnapuram 3rd Street guideline value

The current guideline value of Ramakrishnapuram 3rd Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Mixed Type - II land.

How the guideline value of Ramakrishnapuram 3rd Street has changed

The guideline value for Ramakrishnapuram 3rd Street has seen significant changes over the years. In 2007, the guideline value was Rs 1,860 per sq.ft, which rose to Rs 7,000 per sq.ft in the 2012 revision, marking an increase of 276%. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, reflecting a 10% increase from the 2012 figure.

There are no figures available for the revisions in 2003, 2002, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 314%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Ramakrishnapuram 3rd Street above this median.

• Ramakrishnapuram 2nd Street: Rs 7,600 per sq.ft (2024)
• Ramakrishnapuram 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. It is important to note that 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 details.

Which Sub Registrar Office covers Ramakrishnapuram 3rd Street?

The Sub Registrar Office that covers Ramakrishnapuram 3rd 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 is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during 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 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,860 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting a total increase of 314% over the years.

What is the land classification for Ramakrishnapuram 3rd Street?

Ramakrishnapuram 3rd Street is classified as Mixed Type - II land.

Where is the Sub Registrar Office for Ramakrishnapuram 3rd Street located?

The Sub Registrar Office for Ramakrishnapuram 3rd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at a rate of 7%.