Guideline Value for Ramakrishnapuram

Ramakrishnapuram guideline value

The current guideline value of Ramakrishnapuram is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village and falls under the Kunrathur SRO. The land classification for this street is Mixed Special Type - I.

How the guideline value of Ramakrishnapuram has changed

The guideline value for Ramakrishnapuram has seen several revisions over the years. In the 2007 revision, the value was Rs 450 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012, marking a substantial rise of 611%. However, the value then decreased to Rs 2,144 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 3,200 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,520 per sq.ft, representing a 10% increase from the previous year. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, indicating that Ramakrishnapuram's 2024 figure is above this median. Below are the guideline values for other streets in Mogalivakkam:

• Ramamoorthy Avenue / Extension: Rs 2,970 per sq.ft (2024)
• Rajeswari Nagar Phase II: Rs 2,970 per sq.ft (2024)
• Rajambal Nagar: Rs 2,970 per sq.ft (2024)
• R.G.L. Colony Phase III: Rs 2,970 per sq.ft (2024)
• Sabari Nagar: Rs 2,970 per sq.ft (2024)
• Sabari Nagar Extension: Rs 2,970 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost to Rs 3,16,800. 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 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. For more information, you can find your SRO here.

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

The guideline value is a key factor in the registration process for property transactions in Mogalivakkam. It serves as a reference point for determining the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When selling property, the guideline value helps establish a baseline for the sale price and ensures that the registration fees are calculated accurately. Buyers and sellers should be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Ramakrishnapuram?

The current guideline value of Ramakrishnapuram is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, showing an overall increase of 682% over the years.

What is the registration office for Ramakrishnapuram?

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

How is stamp duty calculated in Ramakrishnapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 at a rate of 7%.

Are there other streets in Mogalivakkam with different guideline values?

Yes, there are other streets in Mogalivakkam with guideline values ranging from Rs 2,530 to Rs 6,600 per sq.ft, with the median being Rs 2,970 per sq.ft.