Guideline Value for RAM GARDEN

Ram Garden guideline value

The current guideline value of Ram Garden, located in Palavakkam village under the Neelankarai SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Ram Garden has changed

The guideline value for Ram Garden has seen significant changes over the years. In 2002, the value was Rs 269 per sq.ft, which increased to Rs 301 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,200 per sq.ft in 2007, marking an increase of 299%. The 2012 revision saw the value remain at Rs 4,000 per sq.ft, but it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 4,000 per sq.ft in 2023 and reached Rs 4,400 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,536%. The register has no figures for the years between 2012 and 2017, and between 2017 and 2023, there are no figures for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, and Ram Garden's current value is above this median.

• Rajeswari Street: Rs 3,300 per sq.ft (2024)
• R.S.L.Salai/Road: Rs 1,700 per sq.ft (2024)
• Sadik Basha Street: Rs 2,200 per sq.ft (2024)
• Sai Baba Street: Rs 3,300 per sq.ft (2024)
• Saidanya Avenue: Rs 3,300 per sq.ft (2024)
• Radha Krishnan Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ram Garden?

The Sub Registrar Office that covers Ram Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is assessed to calculate the stamp duty, which is charged at a percentage of the higher value 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 Garden?

The current guideline value of Ram Garden is Rs 4,400 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 269 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1,536%.

What is the land classification of Ram Garden?

Ram Garden is classified as Residential Class I Type - II.

Which Sub Registrar Office covers Ram Garden?

The Neelankarai Sub Registrar Office covers Ram Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Ram Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.