Guideline Value for RAM NAGAR

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Uoonamali village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential 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. The earliest revision available is from 2012, where the value was Rs 200 per sq.ft. In 2017, the value decreased to Rs 134 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The most recent revision in 2024 maintains this value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the values from 2012 to 2024, there has been no net change, as the guideline value remains at Rs 200 per sq.ft.

Guideline values in Uoonamali

In Uoonamali, a total of 12 streets fall under the Madurandakam SRO, with the 2024 guideline values ranging from Rs 200 to Rs 701 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which aligns with the guideline value of Ram Nagar.

• Saravana Nagar: Rs 701 per sq.ft (2024)
• Srinivasa Avenue: Rs 200 per sq.ft (2024)
• Sri Venkateshwara Nagar Phase-I: Rs 600 per sq.ft (2024)
• Sundar Avenue: Rs 200 per sq.ft (2024)
• Thenral Nagar: Rs 200 per sq.ft (2024)
• Kowsalya Garden: Rs 350 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total fees Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

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 information.

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

The guideline value is a crucial factor in property transactions in Uoonamali, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property transactions. The guideline value serves as a benchmark for both parties, ensuring transparency and fairness in the registration process.

Frequently asked questions

What is the current guideline value of Ram Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017 and an increase back to Rs 200 per sq.ft in 2023.

What is the land classification for Ram Nagar?

Ram Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

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

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

How is stamp duty calculated for property in Ram Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%.