Guideline Value for Ram Garden

Ram Garden guideline value

The current guideline value of Ram Garden, located in Perumbakkam village under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Ram Garden has changed

The guideline value for Ram Garden has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, which reduced the value to Rs 2,010 per sq.ft, marking a decrease of 33%. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and then further rose to Rs 3,300 per sq.ft in the 2024 revision, representing a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, making the guideline value of Ram Garden above this median.

• Ram Nagar: Rs 3,300 per sq.ft (2024)
• Ramaniyam Ram Enclave: Rs 3,400 per sq.ft (2024)
• Rathnam Nagar: Rs 3,300 per sq.ft (2024)
• R.M.Veerappan 1st to 4th Cross street: Rs 3,300 per sq.ft (2024)
• Rajendra Prasad Street: Rs 3,300 per sq.ft (2024)
• Rukmani Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Ram Garden?

The Sub Registrar Office that covers Ram Garden is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ram Garden?

The current guideline value of Ram Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Ram Garden?

Ram Garden is classified as Residential Special Type - II.

What are the other streets with similar guideline values in Perumbakkam?

Other streets in Perumbakkam with similar guideline values include Ram Nagar, Rathnam Nagar, R.M.Veerappan 1st to 4th Cross street, Rajendra Prasad Street, and Rukmani Nagar, all valued at Rs 3,300 per sq.ft in 2024.

How is stamp duty calculated for properties in Ram Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.