Guideline Value for RAM NAGAR EXTN.

Ram Nagar Extn. guideline value

The current guideline value of Ram Nagar Extn. is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village, under the Chennai South Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Ram Nagar Extn. has changed

Since the introduction of the guideline value register, the figures for Ram Nagar Extn. have seen significant changes. Starting from Rs 103 per sq.ft in 2002, the value increased to Rs 250 in 2003, marking a 143% rise. By 2007, the guideline value further surged to Rs 900, which is a substantial increase of 260%. In 2012, the value reached Rs 2,000, reflecting a 122% rise from the previous revision. However, between 2012 and 2017, the value dropped to Rs 1,340, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,200, indicating a significant increase of 64% from 2017.

It is important to note that the register has no figure for this street in 2023. Overall, from 2002 to 2024, the guideline value has increased by 2036%, showcasing the fluctuations in property valuation over the years.

Guideline values in Pallikaranai

Pallikaranai features 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Ram Nagar Extn. above that median.

• Ram Nagar: Rs 2,200 per sq.ft (2024)
• Ram Nagar South Extn.: Rs 2,750 per sq.ft (2024)
• Ranganathan Puram: Rs 1,650 per sq.ft (2024)
• Ramalinga Adigal Street / Periyar Nagar: Rs 1,650 per sq.ft (2024)
• Ramalinga Adigal Street Extension: Rs 1,650 per sq.ft (2024)
• Riverview Colony: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ram Nagar Extn.?

The Sub Registrar Office that covers Ram Nagar Extn. is the Chennai South Joint I 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 details.

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

The guideline value plays a crucial role in the registration of property transactions in Pallikaranai. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and complies with legal requirements.

Additionally, the guideline value helps in establishing a baseline for property valuations in the area. Buyers and sellers can refer to these values to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ram Nagar Extn.?

The current guideline value of Ram Nagar Extn. is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, starting from Rs 103 per sq.ft in 2002 to Rs 2,200 in 2024, reflecting an overall increase of 2036% over the years.

What is the land classification of Ram Nagar Extn.?

Ram Nagar Extn. is classified as Residential Class II Type - I, indicating its suitability for residential developments.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.