Guideline Value for Ram Nagar 1st Main Road

Ram Nagar 1st Main Road guideline value

The current guideline value of Ram Nagar 1st Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ram Nagar 1st Main Road has changed

The guideline value for Ram Nagar 1st Main Road has seen several revisions over the years. In 2002, the value was Rs 357 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a 96% rise. The value then rose to Rs 900 per sq.ft in 2007, reflecting a 29% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, showing a significant jump of 233%. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value was Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 824% in the guideline value for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with 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, indicating that the guideline value of Ram Nagar 1st Main Road is below this median.

• Ram Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 10th 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 1st Main Road

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 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.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Ram Nagar 1st Main Road?

The Sub Registrar Office that covers Ram Nagar 1st Main Road is 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 more information.

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

The guideline value is a crucial factor during property registration in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Ram Nagar 1st Main Road?

The current guideline value of Ram Nagar 1st Main Road 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 significantly from Rs 357 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 824% over the years.

What is the land classification for Ram Nagar 1st Main Road?

Ram Nagar 1st Main Road is classified as Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Ram Nagar 1st Main Road?

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