Guideline Value for Ram Nagar 1st Cross Street (Arround Park)

Ram Nagar 1st Cross Street (Arround Park) guideline value

The current guideline value of Ram Nagar 1st Cross Street (Arround Park) is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Mixed Type - I.

How the guideline value of Ram Nagar 1st Cross Street (Arround Park) has changed

The guideline value for Ram Nagar 1st Cross Street (Arround Park) has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,900 per sq.ft in 2012, marking a 290% rise. However, it then decreased to Rs 2,613 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 3,900 per sq.ft in 2023, and most recently, it increased to Rs 4,200 per sq.ft in 2024, an 8% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 320%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, placing Ram Nagar 1st Cross Street (Arround Park) above this median.

• Ram Nagar 1st Cross Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 1st Main Road: Rs 4,200 per sq.ft (2024)
• Ram Nagar 1st Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 2nd Cross Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 2nd Cross Street (Arround Park): Rs 4,200 per sq.ft (2024)
• Ram Nagar 2nd Main Road: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar 1st Cross Street (Arround Park)

For a 1,000 sq.ft plot at the current rate of Rs 4,200 per sq.ft, the guideline value would be Rs 42,00,000. The stamp duty at 7% would amount to Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, totaling Rs 3,78,000. It is important to note that 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 more detailed calculations.

Which Sub Registrar Office covers Ram Nagar 1st Cross Street (Arround Park)?

The Sub Registrar Office covering Ram Nagar 1st Cross Street (Arround Park) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Peravallur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value serves as a benchmark for assessing the worth of the property. Buyers and sellers should be aware of this value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Ram Nagar 1st Cross Street (Arround Park)?

The current guideline value of Ram Nagar 1st Cross Street (Arround Park) is Rs 4,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, marking an overall increase of 320% over the years.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,78,000.

Which office handles property registrations in this area?

The Sembiam Sub Registrar Office handles property registrations for Ram Nagar 1st Cross Street (Arround Park), located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of this street?

Ram Nagar 1st Cross Street (Arround Park) is classified as Mixed Type - I, which indicates its suitability for various types of land use.