Guideline Value for RAM NAGAR EXTENSION

Ram Nagar Extension guideline value

The current guideline value of Ram Nagar Extension, located in Koladi village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Ram Nagar Extension has changed

The guideline value for Ram Nagar Extension has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, the value significantly increased to Rs 1,500 per sq.ft in 2023, and then rose again to the current value of Rs 1,650 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Koladi

Koladi village has 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that Ram Nagar Extension's current value is above this median.

• Ramarajar Road: Rs 660 per sq.ft (2024)
• Reddiar Street: Rs 660 per sq.ft (2024)
• Reddy Street: Rs 660 per sq.ft (2024)
• Ramadasar Road 2nd Cross Street: Rs 660 per sq.ft (2024)
• Ramadasar Road 1st Cross Street: Rs 660 per sq.ft (2024)
• Raju Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar Extension?

The Sub Registrar Office that covers Ram Nagar Extension is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Koladi. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value according to government standards.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Ram Nagar Extension?

The current guideline value of Ram Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Koladi and their guideline values?

Other streets in Koladi include Ramarajar Road, Reddiar Street, Reddy Street, Ramadasar Road 2nd Cross Street, Ramadasar Road 1st Cross Street, and Raju Nagar, all with a guideline value of Rs 660 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Ram Nagar Extension?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

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

The Sub Registrar Office for Ram Nagar Extension is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.