Guideline Value for Ramakrishnapuram Kambar Street

Ramakrishnapuram Kambar Street guideline value

The current guideline value for Ramakrishnapuram Kambar 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 Kambar Street has changed

Over the years, the guideline value for Ramakrishnapuram Kambar Street has seen several revisions. 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, in 2023, the value increased significantly to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,650 per sq.ft. The revisions for the years 2002, 2003, and 2007 do not have any figures listed for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

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, making the value for Ramakrishnapuram Kambar Street equal to this median.

• Ramakrishnapuram 7th Street: Rs 1,650 per sq.ft (2024)
• Ramakrishnapuram 6th 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)
• RamaKrishna street,santhi avenue: Rs 2,750 per sq.ft (2024)
• Ramakrishnapuram 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnapuram Kambar 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 at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Ramakrishnapuram Kambar Street?

The Sub Registrar Office that covers Ramakrishnapuram Kambar 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 plays a crucial role during the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to assess the applicable duties, ensuring that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Ramakrishnapuram Kambar Street?

The current guideline value for Ramakrishnapuram Kambar 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 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Ramakrishnapuram Kambar Street?

The land classification for Ramakrishnapuram Kambar Street is Residential Class I Type - III, indicating its suitability for residential development.

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

The Sub Registrar Office for Ramakrishnapuram Kambar 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 based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,15,500.