Guideline Value for Ramakrishnpuram 2nd main road

Ramakrishnpuram 2nd main road guideline value

The current guideline value of Ramakrishnpuram 2nd main road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ramakrishnpuram 2nd main road has changed

The guideline value for Ramakrishnpuram 2nd main road has seen significant changes over the years. In 2002, the guideline value was Rs 259 per sq.ft, which increased to Rs 296 per sq.ft in 2003, marking a 14% rise. The value then rose dramatically to Rs 900 per sq.ft in 2007, reflecting a 204% increase. By 2012, the guideline value had reached Rs 3,500 per sq.ft, which represented a substantial 289% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,345 per sq.ft, indicating a 33% drop. However, it rebounded to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,900 per sq.ft, showing an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,406%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which aligns with the 2024 figure for Ramakrishnpuram 2nd main road.

• Ramakrishna Street: Rs 3,300 per sq.ft (2024)
• Ramakrishnapuram 3rd street Extension: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 3rd Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 3rd Main road: Rs 3,300 per sq.ft (2024)
• Ramakrishnapuram 2nd Street: Rs 3,900 per sq.ft (2024)
• Ramakrishnapuram 1st Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ramakrishnpuram 2nd main road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ramakrishnpuram 2nd main road?

The Sub Registrar Office that covers Ramakrishnpuram 2nd main road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes. This ensures that the property is registered at a value that reflects the current market conditions as per the guidelines set by the government.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions, ensuring that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Ramakrishnpuram 2nd main road?

The current guideline value of Ramakrishnpuram 2nd main road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 259 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,406% over this period.

What is the land classification for Ramakrishnpuram 2nd main road?

The land classification for Ramakrishnpuram 2nd main road is Residential Class I Type - III.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where can I find the Sub Registrar Office for Ramakrishnpuram 2nd main road?

The Sub Registrar Office for Ramakrishnpuram 2nd main road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.