Guideline Value for RAM NAGAR

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Sirunallur village under the Madurandakam SRO, is Rs 250 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 250 per sq.ft. This was followed by a decrease in the 2017 revision, where the value dropped to Rs 167 per sq.ft, reflecting a -33% change. However, the value rebounded to Rs 250 per sq.ft in the 2023 revision and remained unchanged in the 2024 revision, resulting in a +50% increase from 2017 to 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 250 per sq.ft, showing an overall change of +0%.

Guideline values in Sirunallur

In Sirunallur, there are 16 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft. The median value among these streets is Rs 175 per sq.ft, placing Ram Nagar's 2024 figure above that median.

• Sai Serveshwara Garden: Rs 250 per sq.ft (2024)
• Shakthi Nagar: Rs 102 per sq.ft (2024)
• Sma Nagar Part-II: Rs 100 per sq.ft (2024)
• Sri Lakshmi Narasimmar Nagar: Rs 200 per sq.ft (2024)
• Sri Saraswathi Nagar: Rs 200 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees together to Rs 22,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ram Nagar?

The Sub Registrar Office that covers Ram Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Sirunallur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will charge duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 250 per sq.ft in 2023 and 2024, and a drop to Rs 167 per sq.ft in 2017.

What is the land classification of Ram Nagar?

The land classification for Ram Nagar is Commercial Class I Type - I, indicating its usage for commercial purposes.

Where can I find the Sub Registrar Office for Ram Nagar?

The Sub Registrar Office for Ram Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ram Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the stamp duty would be Rs 17,500.