Guideline Value for Ram Nagar 10th Street

Ram Nagar 10th Street guideline value

The current guideline value of Ram Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ram Nagar 10th Street has changed

The guideline value for Ram Nagar 10th Street has seen several revisions over the years. In 2002, the guideline value was Rs 331 per sq.ft. This increased to Rs 650 per sq.ft in 2003, marking a 96% rise. The value further increased to Rs 900 per sq.ft in 2007, reflecting a 38% change. The 2012 revision saw a significant jump to Rs 3,000 per sq.ft, a 233% increase. However, in 2017, the value decreased to Rs 2,010 per sq.ft, which was a 33% drop. The 2023 revision brought it back up to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 897%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, making the guideline value for Ram Nagar 10th Street below that median.

• Ram Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 2nd Street/ 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar 10th Street

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 at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar 10th Street?

Ram Nagar 10th Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for additional assistance.

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

The guideline value plays a crucial role in property transactions in Adambakkam. It is the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure they are paying the correct fees during the registration process.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately in the registration office.

Frequently asked questions

What is the current guideline value of Ram Nagar 10th Street?

The current guideline value of Ram Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From 2002 to 2024, the guideline value has increased by 897%. The most recent revision in 2024 saw an increase of 10% from the previous year.

What is the land classification for Ram Nagar 10th Street?

Ram Nagar 10th Street is classified as Residential Class II Type - I.

Where can I find the registration office for Ram Nagar 10th Street?

The registration office for Ram Nagar 10th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.