Guideline Value for Sri Ramakrishna Nagar

Sri Ramakrishna Nagar guideline value

The current guideline value of Sri Ramakrishna Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO, classified as Residential Class III Type - I.

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 2007, the value was Rs 200 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, there was a decrease to Rs 469 per sq.ft in 2017. Following this, the value surged to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,102 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 451%. The substantial rise from Rs 469 per sq.ft in 2017 to Rs 1,102 per sq.ft in 2024 indicates a noteworthy change in the valuation of properties in this area.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value of Sri Ramakrishna Nagar is equal to this median.

• Sri Shanmugam Nagar: Rs 1,100 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 1,100 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,102 per sq.ft (2024)
• Sri Jai Balaji Nagar: Rs 1,100 per sq.ft (2024)
• St. Joseph Nagar: Rs 1,102 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 1,102 per sq.ft, the total guideline value would be Rs 11,02,000. The stamp duty at 7% would amount to Rs 77,140, while the registration fee at 2% would be Rs 22,040, making the total cost for these fees Rs 99,180. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ramakrishna Nagar?

Sri Ramakrishna Nagar falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Sri Ramakrishna Nagar?

The current guideline value of Sri Ramakrishna Nagar is Rs 1,102 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 200 per sq.ft in 2007 to Rs 1,102 per sq.ft in 2024, reflecting an overall increase of 451% over the years.

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

For a 1,000 sq.ft property, the total guideline value is Rs 11,02,000, with stamp duty amounting to Rs 77,140 and registration fees of Rs 22,040, totaling Rs 99,180.

Which Sub Registrar Office covers this area?

The Redhills Sub Registrar Office covers Sri Ramakrishna Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the classification of land in Sri Ramakrishna Nagar?

Sri Ramakrishna Nagar is classified as Residential Class III Type - I, indicating its designation for residential use within the area.