Guideline Value for SRI RAMAKRISHNA NAGAR

Sri Ramakrishna Nagar guideline value

The current guideline value of Sri Ramakrishna Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Ramakrishna Nagar has changed

The guideline value for Sri Ramakrishna Nagar has undergone several revisions over the years. The earliest recorded value is from 2017, set at Rs 469 per sq.ft. This figure increased significantly to Rs 700 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 brought the value to Rs 770 per sq.ft, which is a 10% increase from the previous year.

There are no recorded guideline values for this street in the years 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Nandambakkam

Nandambakkam features a total of 94 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 2,300 per sq.ft as of 2024. The median guideline value in this area is Rs 880 per sq.ft, indicating that Sri Ramakrishna Nagar's 2024 figure is below this median.

• Sriperumbudur Kundrathur Road: Rs 990 per sq.ft (2024)
• Sri Ranganathanpuram Part I To V: Rs 990 per sq.ft (2024)
• SriRanganathapuram Colony: Rs 440 per sq.ft (2024)
• Sri Ranganathapuram Colony I to III: Rs 880 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 440 per sq.ft (2024)
• Srinivasa Nagar: Rs 770 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total charges to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ramakrishna Nagar?

The Sub Registrar Office that covers Sri Ramakrishna Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of properties in Nandambakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved.

It is essential for buyers and sellers to be informed about the current guideline values, as these figures can significantly impact the overall cost of a property transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sri Ramakrishna Nagar?

The current guideline value of Sri Ramakrishna Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. The overall increase from 2017 to 2024 is 64%.

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

For a property valued at Rs 7,70,000, the stamp duty is Rs 53,900 and the registration fee is Rs 15,400, totaling Rs 69,300. This is based on the current guideline value of Rs 770 per sq.ft.

Which Sub Registrar Office covers Sri Ramakrishna Nagar?

The Padappai Sub Registrar Office covers Sri Ramakrishna Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the classification of land in Sri Ramakrishna Nagar?

Sri Ramakrishna Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.