Guideline Value for RAM NAGAR

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Vellanoor-1 village under the Avadi SRO, is Rs 555 per sq.ft as per the 2024 revision 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 of Ram Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 555 per sq.ft, marking an increase of 11% from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 66%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting a substantial rise in the guideline value over this period.

Guideline values in Vellanoor-1

In Vellanoor-1, there are 34 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft. The median value is Rs 555 per sq.ft, which is equal to the guideline value of Ram Nagar.

• Saraswathi Gopal Nagar: Rs 555 per sq.ft (2024)
• Saroja Ammal Nagar: Rs 440 per sq.ft (2024)
• Shreyas Mini Town: Rs 1,980 per sq.ft (2024)
• Sri Ganapathy Nagar Annexe: Rs 440 per sq.ft (2024)
• Sri Krishna Nagar: Rs 555 per sq.ft (2024)
• Sri Perumal Nagar: Rs 555 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 555 per sq.ft, the total guideline value would be Rs 5,55,000. The stamp duty at 7% would amount to Rs 38,850, and the registration fee at 2% would be Rs 11,100, making the total cost for these fees Rs 49,950. 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 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 Vellanoor-1

The guideline value is a crucial factor in the registration process when buying or selling property in Vellanoor-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 555 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 555 per sq.ft in 2024, reflecting an overall increase of 66% over this period.

What is the median guideline value in Vellanoor-1?

The median guideline value in Vellanoor-1 is Rs 555 per sq.ft, which is the same as the guideline value for Ram Nagar.

What are the stamp duty rates for property in Ram Nagar?

The stamp duty for property in Ram Nagar is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where can I find the Sub Registrar Office for 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.