Guideline Value for Ramakrishnapuram

Ramakrishnapuram guideline value

The current guideline value of Ramakrishnapuram is Rs 1,430 per sq.ft, effective from 1 July 2024. This village is part of the Kunrathur Sub Registrar Office (SRO) in Chennai, classified as Residential Class II Type - II.

How the guideline value of Ramakrishnapuram has changed

The guideline value for Ramakrishnapuram has undergone several revisions over the years. The 2017 revision set the guideline value at Rs 871 per sq.ft, which increased to Rs 1,300 per sq.ft in 2023. The most recent revision in 2024 has further raised it to Rs 1,430 per sq.ft, marking a change of 49% from 2017 to 2023 and a 10% increase from 2023 to 2024. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The consistent upward trend in the guideline value reflects the ongoing changes in the real estate landscape in the area.

Guideline values in Mangadu -A

In the village of Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value for Ramakrishnapuram is below this median.

• Rani Ammal Nagar: Rs 1,430 per sq.ft (2024)
• R.B.Nagar: Rs 1,760 per sq.ft (2024)
• Ragunathapuram West: Rs 1,430 per sq.ft (2024)
• Ragunathapuram South: Rs 1,430 per sq.ft (2024)
• Ragunathapuram North: Rs 1,430 per sq.ft (2024)
• Ragunathapuram East: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total cost for these fees to Rs 1,28,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ramakrishnapuram?

The Sub Registrar Office that covers Ramakrishnapuram is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor when buying or selling property in Mangadu -A, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that both parties in the transaction are aware of the financial implications involved.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram?

The current guideline value of Ramakrishnapuram is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and then to Rs 1,430 per sq.ft in 2024, indicating a significant increase over the years.

What is the land classification of Ramakrishnapuram?

Ramakrishnapuram is classified as Residential Class II Type - II under the Kunrathur SRO.

Where can I find the Sub Registrar Office for Ramakrishnapuram?

The Sub Registrar Office for Ramakrishnapuram is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Ramakrishnapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,00,100.