Guideline Value for Ram Nagar 2nd Main Road

Ram Nagar 2nd Main Road guideline value

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

How the guideline value of Ram Nagar 2nd Main Road has changed

The guideline value for Ram Nagar 2nd Main Road has seen several revisions over the years. In 2002, the value was Rs 453 per sq.ft, which increased to Rs 493 per sq.ft in 2003, marking a 9% rise. The value then rose significantly to Rs 800 per sq.ft in 2007, representing a 62% increase. Following that, the value surged to Rs 3,900 per sq.ft in 2012, a remarkable 388% increase. However, it decreased to Rs 2,613 per sq.ft in 2017, reflecting a decline of 33%. The value then increased to Rs 3,900 per sq.ft in 2023, followed by the current value of Rs 4,200 per sq.ft in 2024, which shows an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 827%. The register has no figures for revisions in years other than those specified.

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. The median value for these streets is Rs 3,301 per sq.ft, positioning Ram Nagar 2nd Main Road's 2024 figure above that median.

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

Stamp duty and registration fee for property in Ram Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,200 per sq.ft, the 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 to Rs 3,78,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar 2nd Main Road?

The Sub Registrar Office that covers Ram Nagar 2nd Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it can affect the overall costs associated with the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Ram Nagar 2nd Main Road?

The current guideline value of Ram Nagar 2nd Main Road 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 from Rs 453 per sq.ft in 2002 to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of 827% over the years.

What is the median guideline value in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, with Ram Nagar 2nd Main Road's value being above this median.

What are the registration fees for property in Ram Nagar 2nd Main Road?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ram Nagar 2nd Main Road located?

The Sub Registrar Office for Ram Nagar 2nd Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.