Guideline Value for RAM NAGAR

Ram Nagar guideline value

The current guideline value of Ram Nagar in Malayambakkam village under the Kunrathur SRO is Rs 1,210 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. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,100 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,210 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing Ram Nagar's 2024 value above this median.

• Ramachandra Nagar: Rs 1,210 per sq.ft (2024)
• Royal City: Rs 1,800 per sq.ft (2024)
• Sagunthala Avenue: Rs 2,750 per sq.ft (2024)
• Sai Sampath Nagar: Rs 2,310 per sq.ft (2024)
• Sai Sri Boobathi Nagar: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,210 per sq.ft, the guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, while the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar?

The Kunrathur Sub Registrar Office covers Ram Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Malayambakkam. It is the minimum value at which properties are registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value must be considered, as it affects the overall cost involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar in Malayambakkam village is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the median guideline value in Malayambakkam?

The median guideline value for the 82 streets in Malayambakkam is Rs 935 per sq.ft, with Ram Nagar's current value being above this median.

What are the stamp duty rates in Ram Nagar?

The stamp duty rate in Ram Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, covering the area of Ram Nagar.