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 4,400 per sq.ft, effective from 1 July 2024. This road is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - I.

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

The guideline value for Ram Nagar 2nd Main road has seen significant changes over the years. The register shows that in 2002, the value was Rs 545 per sq.ft, which increased to Rs 619 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,800 per sq.ft in 2007, marking an increase of 191%. In 2012, the value was recorded at Rs 4,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision set the value at Rs 2,680 per sq.ft, and by 2023, it increased to Rs 4,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the register. Overall, from 2002 to 2024, the guideline value has increased by 707%.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Ram Nagar 2nd Main road is above this median.

• Raman Thottam 2nd Street: Rs 2,800 per sq.ft (2024)
• Raman Thottam 1st Street: Rs 2,800 per sq.ft (2024)
• Raman Thottam: Rs 2,800 per sq.ft (2024)
• Raman Street: Rs 2,800 per sq.ft (2024)
• R. Mohanarangam Main road: Rs 5,500 per sq.ft (2024)
• Rajaji 2nd Street: Rs 2,800 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 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more details, 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 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 Nanganallur

When buying or selling property in Nanganallur, the guideline value is a crucial factor that determines the stamp duty and registration fees payable at the time of registration. This value serves as a benchmark for property transactions, ensuring that the fees are calculated based on an official assessment of property worth.

It is important for buyers and sellers to be aware of the guideline value as it can affect the overall cost of the transaction. The guideline value is updated periodically, reflecting changes in the real estate landscape.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 545 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 707% over this period.

What is the classification of land on Ram Nagar 2nd Main road?

Ram Nagar 2nd Main road is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Ram Nagar 2nd Main road?

The Alandur Sub Registrar Office covers Ram Nagar 2nd Main road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot at the current rate, the total fees amount to Rs 3,96,000.