Guideline Value for SRI RAMAKRISHNA NAGAR

Sri Ramakrishna Nagar guideline value

The current guideline value of Sri Ramakrishna Nagar, located in Kosappur village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - II.

How the guideline value of Sri Ramakrishna Nagar has changed

The guideline value for Sri Ramakrishna Nagar has seen significant changes over the years. In 2002, the value was Rs 14 per sq.ft, which increased to Rs 15 per sq.ft in 2003. Following that, the value rose dramatically to Rs 100 per sq.ft in 2007, then to Rs 300 per sq.ft in 2012. However, it decreased to Rs 201 per sq.ft in 2017. The most recent revisions show that the value remained at Rs 1,002 per sq.ft in both 2023 and the current 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by 7057%. Notably, there are no figures in the register for the years not mentioned for this street.

Guideline values in Kosappur

In Kosappur, there are 25 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft, with a median value of Rs 1,002 per sq.ft. The guideline value for Sri Ramakrishna Nagar aligns with this median.

• Srinivasa Nagar: Rs 1,002 per sq.ft (2024)
• Subam Colony: Rs 1,002 per sq.ft (2024)
• Subam Colony Extn: Rs 1,002 per sq.ft (2024)
• Sri Aishwariya Nagar: Rs 1,002 per sq.ft (2024)
• Sowbaghiya Nagar: Rs 1,001 per sq.ft (2024)
• Thangam Colony: Rs 1,002 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 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total cost for these fees to Rs 90,180. 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 the 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kosappur, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their transactions. This value helps in determining the costs associated with property registration and ensures that all parties are informed of the legal requirements.

Frequently asked questions

What is the current guideline value of Sri Ramakrishna Nagar?

The current guideline value of Sri Ramakrishna Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 14 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, marking a total increase of 7057% over the years.

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

The stamp duty is calculated at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 90,180.

Which office handles property registrations for Sri Ramakrishna Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Sri Ramakrishna Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties, influencing the calculation of stamp duty and registration fees during property transactions.