Guideline Value for RAM Nagar

RAM Nagar guideline value

The current guideline value of RAM Nagar, located in S. Kullathur village under the Pallavaram SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

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 set at Rs 900 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in 2012, marking a rise of 156%. However, the value then decreased to Rs 1,541 per sq.ft in 2017, reflecting a decline of 33%. The next revision in 2023 raised the value to Rs 2,000 per sq.ft, an increase of 30%. The most recent revision in 2024 has set the guideline value at Rs 2,530 per sq.ft, representing a 27% increase from the previous year.

It is important to note that the register has no figures for RAM Nagar for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 181%.

Guideline values in S. Kullathur

S. Kullathur has a range of guideline values across its 71 streets under the Pallavaram SRO, with figures for 2024 ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, making RAM Nagar's current value below this median.

• RATHRAPURI 1st STREET: Rs 2,750 per sq.ft (2024)
• Rajiv Nagar 1 To 5 Main Road: Rs 2,530 per sq.ft (2024)
• Rajeswari Nagar 1 To 5 Streets: Rs 2,750 per sq.ft (2024)
• Rajeswari Nagar 1 To 5 Main Road: Rs 2,750 per sq.ft (2024)
• Rose Avenue: Rs 2,530 per sq.ft (2024)
• Rajeev Nagar: Rs 3,300 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 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, while the registration fee at 2% would be Rs 50,600, bringing the total cost for these fees to Rs 2,27,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

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

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of RAM Nagar?

The current guideline value of RAM Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 900 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 181% over this period.

What is the land classification for RAM Nagar?

RAM Nagar is classified as Residential Class I Type - II, which indicates its intended use for residential purposes.

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

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

Where is the Sub Registrar Office for RAM Nagar located?

The Sub Registrar Office for RAM Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.