Guideline Value for RAM NAGAR

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Vellanoor-2 village under the Avadi SRO, is Rs 555 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision sees a further increase to Rs 555 per sq.ft, reflecting an 11% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that there are no figures available for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Vellanoor-2

In Vellanoor-2, there are 31 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,800 per sq.ft. The median value across these streets 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)
• Sri Ganapathy Nagar Annexe: Rs 440 per sq.ft (2024)
• Sri Ganga Nagar: Rs 555 per sq.ft (2024)
• N Shanthi Nagar: Rs 555 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 amounts to Rs 5,55,000. The stamp duty at 7% would be Rs 38,850, while the registration fee at 2% would be Rs 11,100, bringing the total cost of duties and fees to Rs 49,950. 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 jurisdiction of 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-2

The guideline value plays a crucial role in property transactions in Vellanoor-2. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers should be aware that the guideline value is a reference point for the valuation of properties in the area.

When a property is sold, the guideline value is considered alongside the sale price to ensure that the appropriate duties are calculated. This helps maintain transparency and fairness in property transactions.

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, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 66%, from Rs 335 per sq.ft to Rs 555 per sq.ft in 2024. The most recent change from 2023 to 2024 is an increase of 11%.

What are the other streets in Vellanoor-2?

Other streets in Vellanoor-2 include Saraswathi Gopal Nagar, Sri Ganapathy Nagar Annexe, Sri Ganga Nagar, N Shanthi Nagar, Sri Krishna Nagar, and Sri Perumal Nagar, with varying guideline values.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total duty and fees would amount to Rs 49,950.

Where is the Sub Registrar Office for Ram Nagar located?

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