Guideline Value for Ramakrishnapuram 6th Street

Ramakrishnapuram 6th Street guideline value

The current guideline value of Ramakrishnapuram 6th Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramakrishnapuram 6th Street has changed

The guideline value for Ramakrishnapuram 6th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was reduced to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 established the guideline value at Rs 1,650 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the current 2024 value, there has been an increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, 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, which matches the 2024 figure for Ramakrishnapuram 6th Street.

• Ramakrishnapuram 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Ramakrishnapuram 7th Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram 2nd Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram Kambar Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram 1st 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 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishnapuram 6th Street?

The Sub Registrar Office that covers Ramakrishnapuram 6th Street 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

When buying or selling property in Chitlapakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty payable. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration.

The guideline value is updated periodically, reflecting changes in the real estate market, and it is essential for both buyers and sellers to be aware of these values to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram 6th Street?

The current guideline value of Ramakrishnapuram 6th Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Ramakrishnapuram 6th Street?

The land classification for Ramakrishnapuram 6th Street is Residential Class I Type - III.

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

The Sub Registrar Office for Ramakrishnapuram 6th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.