Guideline Value for SRI RAMAKRISHNA NAGAR

Sri Ramakrishna Nagar guideline value

The current guideline value of Sri Ramakrishna Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Paleripattu village under the Avadi SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Ramakrishna Nagar has changed

The guideline value for Sri Ramakrishna Nagar has seen several revisions over the years. Starting from Rs 180 per sq.ft in 2007, it increased significantly to Rs 900 per sq.ft in 2012. However, it then decreased to Rs 603 per sq.ft in 2017. The most recent revisions show an increase from Rs 900 per sq.ft in 2023 to Rs 990 per sq.ft in 2024, marking a 10% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 reflects a substantial increase of 450%, highlighting the evolving guideline values in this area.

Guideline values in Paleripattu

Paleripattu village has a total of 111 streets under the Avadi SRO, with guideline values ranging from Rs 801 to Rs 4,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, which is equal to the current value of Sri Ramakrishna Nagar.

• Sri Sabthagiri Nagar: Rs 990 per sq.ft (2024)
• Telugu Pallikooda St: Rs 990 per sq.ft (2024)
• Shanthi Terrains: Rs 2,200 per sq.ft (2024)
• Selva Nagar: Rs 990 per sq.ft (2024)
• Thiruvallur St: Rs 990 per sq.ft (2024)
• Sekkadu Main Road: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramakrishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Ramakrishna Nagar?

The Sri Ramakrishna Nagar area falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Paleripattu. 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 helps in assessing the fair amount of tax to be paid, as it is used to calculate the stamp duty based on the higher of the guideline value or the sale price. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Ramakrishna Nagar?

The current guideline value of Sri Ramakrishna Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Sri Ramakrishna Nagar?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office handles registrations for Sri Ramakrishna Nagar?

The Avadi Sub Registrar Office handles registrations for Sri Ramakrishna Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District.

What is the land classification for Sri Ramakrishna Nagar?

Sri Ramakrishna Nagar is classified as Residential Class II Type - I, which influences its guideline value and potential uses.