Guideline Value for RAM NAGAR

Ram Nagar guideline value

The current guideline value for Ram Nagar, located in Thandurai village under the Avadi SRO, is Rs 988 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II 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 2007, the value was Rs 386 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 133%. However, the value then dropped to Rs 603 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 saw a substantial increase to Rs 900 per sq.ft, followed by another rise to Rs 988 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 156%. The revisions for the years 2002 and 2003 do not have figures recorded for this street in the register.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft. The median value for these streets is Rs 988 per sq.ft, which is equal to the guideline value for Ram Nagar.

• Raja Street, Charles Nagar: Rs 800 per sq.ft (2024)
• Sai Krishna Nagar: Rs 989 per sq.ft (2024)
• Rajagopal Street, (M.T.H.Road Southern Side): Rs 988 per sq.ft (2024)
• Sakthi Nagar: Rs 800 per sq.ft (2024)
• Railway Line Streets (South): Rs 988 per sq.ft (2024)
• Railway Line Southern Side Streets: Rs 988 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 988 per sq.ft, the total guideline value would be Rs 9,88,000. The stamp duty at 7% would amount to Rs 69,160, and the registration fee at 2% would be Rs 19,760, bringing the total fees to Rs 88,920. 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 detailed calculations.

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 Thandurai

The guideline value is a crucial factor in the registration process when buying or selling property in Thandurai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. The fees are calculated based on this value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 386 per sq.ft in 2007 to Rs 988 per sq.ft in 2024, reflecting an overall increase of 156% over the years.

What is the land classification of Ram Nagar?

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

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

For a property valued at Rs 9,88,000, the stamp duty would be Rs 69,160 and the registration fee would be Rs 19,760, totaling Rs 88,920.

Which Sub Registrar Office covers Ram Nagar?

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