Guideline Value for Ramakrishnapuram 3rd street Extension

Ramakrishnapuram 3rd street Extension guideline value

The current guideline value of Ramakrishnapuram 3rd street Extension is Rs 3,900 per sq.ft, effective from 1 July 2024. This property is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Ramakrishnapuram 3rd street Extension has changed

The guideline value for Ramakrishnapuram 3rd street Extension has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in 2017. Following this, the value increased to Rs 3,500 per sq.ft in 2023, and finally, it rose to Rs 3,900 per sq.ft in the 2024 revision, reflecting an 11% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register does not contain figures for the years 2002, 2003, and 2007 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 current guideline value of Ramakrishnapuram 3rd street Extension.

• Ramakrishnapuram 3rd Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 3rd Main road: Rs 3,300 per sq.ft (2024)
• Ramakrishnapuram 2nd Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 1st Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 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 Extension

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, while the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the 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 street Extension?

The Sub Registrar Office that covers Ramakrishnapuram 3rd street Extension 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 a crucial factor during the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable to the government.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram 3rd street Extension?

The current guideline value of Ramakrishnapuram 3rd street Extension 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 from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification for this area?

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

Where can I find the registration office for this property?

The registration office for Ramakrishnapuram 3rd street Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in this area?

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