Guideline Value for RAM NAGAR

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Kanakapattu village under the Thiruporur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then increased significantly in the subsequent revisions, reaching Rs 2,000 per sq.ft in 2023, and further rising to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kanakapattu

In Kanakapattu, there are 15 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 665 to Rs 3,225 per sq.ft. The median value for these streets is Rs 2,205 per sq.ft, placing Ram Nagar's 2024 figure below this median.

• Serene Hub: Rs 1,815 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 665 per sq.ft (2024)
• White Pearls City: Rs 2,709 per sq.ft (2024)
• Harini City: Rs 1,320 per sq.ft (2024)
• Dugar Properties: Rs 2,205 per sq.ft (2024)
• A.D. Viswanath Avenue: Rs 1,980 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar?

Ram Nagar falls under the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kanakapattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Ram Nagar?

The land classification for Ram Nagar is Mixed Type - II, which indicates the type of development permitted in the area.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated in Ram Nagar?

Stamp duty in Ram Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.