Guideline Value for RAM NAGAR

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Puthu Errumai Vettipalayam village under the Redhills SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which decreased to Rs 134 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 200 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 220 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Puthu Errumai Vettipalayam

In Puthu Errumai Vettipalayam, there are 8 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 110 to Rs 220 per sq.ft. The median value for these streets is Rs 220 per sq.ft, which is equal to the 2024 figure for Ram Nagar.

• Saraswathi Nagar: Rs 220 per sq.ft (2024)
• Poorani Avenue: Rs 220 per sq.ft (2024)
• Perumal Koil Street: Rs 220 per sq.ft (2024)
• Sri Ganapathy Garden: Rs 220 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Vigneswar Nagar: Rs 110 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 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees together to Rs 19,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar?

Ram Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Puthu Errumai Vettipalayam

The guideline value plays a crucial role in the registration process when buying or selling property in Puthu Errumai Vettipalayam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded at a value that reflects the current market conditions as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023, and finally to Rs 220 per sq.ft in 2024.

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

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800.

Which Sub Registrar Office covers Ram Nagar?

Ram Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Ram Nagar?

Ram Nagar falls under the Residential Class I Type - I land classification.