Guideline Value for Ram Nagar 2nd Cross Street

Ram Nagar 2nd Cross Street guideline value

The current guideline value of Ram Nagar 2nd Cross Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Ram Nagar 2nd Cross Street has changed

The guideline value for Ram Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 400 per sq.ft, which increased to Rs 436 per sq.ft in 2003, marking a 9% rise. By 2007, the value surged to Rs 800 per sq.ft, representing an 83% increase. In 2012, the value remained at Rs 3,900 per sq.ft, but then dropped to Rs 2,613 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 3,900 per sq.ft in 2023, before reaching the current rate of Rs 4,200 per sq.ft in 2024, which is an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 950%. The register does not provide figures for any other revisions for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value of Rs 4,200 per sq.ft for Ram Nagar 2nd Cross Street is above this median.

• Ram Nagar 2nd Cross Street (Arround Park): Rs 4,200 per sq.ft (2024)
• Ram Nagar 1st Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 2nd Main Road: Rs 4,200 per sq.ft (2024)
• Ram Nagar 2nd Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 1st Main Road: Rs 4,200 per sq.ft (2024)
• Ram Nagar 3rd Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value amounts to Rs 42,00,000. The stamp duty at 7% would be Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, bringing the total fees to 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 also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Ram Nagar 2nd Cross Street?

The Sub Registrar Office that covers Ram Nagar 2nd Cross Street 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 as it determines the minimum value at which a property can be registered. When buying or selling property in Peravallur, the guideline value serves as a benchmark for calculating stamp duty and registration fees.

During the registration process, the authorities will assess the property based on the guideline value to ensure compliance with legal requirements. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Ram Nagar 2nd Cross Street?

The current guideline value of Ram Nagar 2nd Cross Street 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 changed significantly from Rs 400 per sq.ft in 2002 to Rs 4,200 per sq.ft in 2024, reflecting a total increase of 950% over the years.

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

For a property valued at Rs 42,00,000, the stamp duty would be Rs 2,94,000 and the registration fee would be Rs 84,000, totaling Rs 3,78,000.

Which office handles property registrations for Ram Nagar 2nd Cross Street?

The Sembiam Sub Registrar Office handles property registrations for Ram Nagar 2nd Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Ram Nagar 2nd Cross Street?

Ram Nagar 2nd Cross Street is classified as Mixed Type - I land, which indicates its suitability for various types of development.