Guideline Value for Ram Nagar 1st Street

Ram Nagar 1st Street guideline value

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

How the guideline value of Ram Nagar 1st Street has changed

The guideline value for Ram Nagar 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 339 per sq.ft. This increased to Rs 650 per sq.ft in 2003, marking a change of +92%. By 2007, the value rose significantly to Rs 900 per sq.ft, reflecting a +38% increase. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, which was a substantial increase of +233% from the previous figure. However, in 2017, the guideline value decreased to Rs 2,010 per sq.ft, a drop of -33%. The following revision in 2023 brought the value back up to Rs 3,000 per sq.ft, and in 2024, it increased again to Rs 3,300 per sq.ft, representing a +10% change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +873%. There are no figures for any other revisions for this street in the register.

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 guideline value for these streets is Rs 3,900 per sq.ft, making the current value of Ram Nagar 1st Street below this median.

• Ram Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 10th Street: 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 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. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ram Nagar 1st Street?

The Sub Registrar Office that covers Ram Nagar 1st Street 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 details.

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

The guideline value is an important factor in the registration process when buying or selling property 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 registration regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction process. This ensures that both parties are aware of the financial obligations involved in the sale.

Frequently asked questions

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

The current guideline value of Ram Nagar 1st Street 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 339 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +873% over the years.

What is the land classification of Ram Nagar 1st Street?

Ram Nagar 1st Street is classified under Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 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 1st Street located?

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