Guideline Value for RAM NAGAR

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Paruthipattu village under the Avadi SRO, is Rs 1,625 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has seen several revisions over the years. In 2002, the value was Rs 171 per sq.ft, which increased to Rs 197 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, marking a 154% increase. The 2012 revision saw a change to Rs 1,200 per sq.ft, which was a 140% increase from the previous figure. However, in 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The most recent revisions show a substantial rise, with the value reaching Rs 1,500 per sq.ft in 2023, and then increasing by 8% to Rs 1,625 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 850%. There are no figures available for the years between these revisions for this street.

Guideline values in Paruthipattu

In Paruthipattu village, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft. The median guideline value for these streets is Rs 1,625 per sq.ft, which matches the current value for Ram Nagar.

• Ram Nagar 1st Street: Rs 1,625 per sq.ft (2024)
• Ram Nagar 2nd Street: Rs 1,625 per sq.ft (2024)
• Ram Nagar 3rd Street: Rs 1,625 per sq.ft (2024)
• Ram Nagar 4th Street: Rs 1,625 per sq.ft (2024)
• Ram Nagar 5th Street: Rs 1,625 per sq.ft (2024)
• Raman Nagar Main Road: Rs 950 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 1,625 per sq.ft, the total guideline value would be Rs 16,25,000. The stamp duty at 7% would amount to Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, making the total cost for these charges Rs 1,46,250. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar?

The Sub Registrar Office that covers Ram Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Paruthipattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official value set by the government.

When a property is sold, the higher of the guideline value or the sale price is considered for duty calculation. This ensures that the registration reflects a fair value for the property being transferred.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 171 per sq.ft in 2002 to Rs 1,625 per sq.ft in 2024, reflecting an overall increase of 850% over this period.

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

The Sub Registrar Office for Ram Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

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

For a property valued at Rs 16,25,000, the stamp duty would be Rs 1,13,750, and the registration fee would be Rs 32,500, totaling Rs 1,46,250.

What is the land classification for Ram Nagar?

Ram Nagar is classified as Residential Special Type - I, which is significant for determining its guideline value and usage regulations.