Guideline Value for HARE RAM NAGAR

Hare Ram Nagar guideline value

The current guideline value of Hare Ram Nagar, located in Periyakuppam village under the Tiruvallur Joint 1 SRO, is Rs 1,320 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

How the guideline value of Hare Ram Nagar has changed

Over the years, the guideline value of Hare Ram Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and most recently to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

To summarize the changes, from 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Periyakuppam

In Periyakuppam village, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Hare Ram Nagar is above this median, reflecting its current market standing.

• Heraram Street: Rs 1,100 per sq.ft (2024)
• Indira Gandhi Salai: Rs 1,100 per sq.ft (2024)
• Indira Nagar: Rs 879 per sq.ft (2024)
• Gopala Puram: Rs 1,320 per sq.ft (2024)
• Gomathi Amman Nagar- Annex-27: Rs 879 per sq.ft (2024)
• Ingarsal Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Hare Ram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Hare Ram Nagar?

The Sub Registrar Office that covers Hare Ram Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Periyakuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Hare Ram Nagar?

The current guideline value of Hare Ram Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Hare Ram Nagar?

Hare Ram Nagar is classified as Residential Class I Type - II under the guideline value register.

Where is the Sub Registrar Office for Hare Ram Nagar located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the stamp duty calculated for properties in Hare Ram Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7%.