Guideline Value for Ramakrishnapuram 7th Street

Ramakrishnapuram 7th Street guideline value

The current guideline value of Ramakrishnapuram 7th Street is Rs 1,650 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 Class I Type - III.

How the guideline value of Ramakrishnapuram 7th Street has changed

The guideline value for Ramakrishnapuram 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the 2023 revision raised the value significantly to Rs 1,500 per sq.ft, and the latest revision in 2024 increased it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 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 is Rs 1,650 per sq.ft, which aligns with the current value of Ramakrishnapuram 7th Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, calculated at 7%, is Rs 1,15,500, while the registration fee at 2% is Rs 33,000. The total cost for these fees together is Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramakrishnapuram 7th Street?

The Sub Registrar Office that covers Ramakrishnapuram 7th 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 further assistance.

How the guideline value is used when you buy or sell in Chitlapakkam

The guideline value is a crucial factor in property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram 7th Street?

The current guideline value of Ramakrishnapuram 7th 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 1,650 per sq.ft in 2024, with various revisions in between, including a notable increase of 49% from 2017 to 2023.

What is the median guideline value in Chitlapakkam?

The median guideline value in Chitlapakkam is Rs 1,650 per sq.ft, which is the same as the current guideline value for Ramakrishnapuram 7th Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty is Rs 1,15,500 and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Ramakrishnapuram 7th Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Ramakrishnapuram 7th Street, located at No.26, mes Road, East Tambaram, Chennai-600059.