Guideline Value for Ram Nagar 2nd Street

Ram Nagar 2nd Street guideline value

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

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

The guideline value for Ram Nagar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 391 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a significant rise of 105%. Following that, the value surged to Rs 3,900 per sq.ft in 2012, an increase of 388%. However, it then dropped to Rs 2,613 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 3,900 per sq.ft in 2023, before reaching the current figure of Rs 4,200 per sq.ft in 2024, which is an increase of 8%.

The register has no figure for Ram Nagar 2nd Street in 2003. Overall, from 2002 to 2024, the guideline value has increased by 974%.

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, placing Ram Nagar 2nd Street's value above this median.

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

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

The Sub Registrar Office that covers Ram Nagar 2nd 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 when registering property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When buying or selling property, the guideline value ensures transparency and helps in standardizing the transaction process. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

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

The current guideline value of Ram Nagar 2nd 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 391 per sq.ft in 2002 to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of 974% over the years.

What is the land classification of Ram Nagar 2nd Street?

Ram Nagar 2nd Street is classified as Mixed Type - I under the land classification system.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for property in Ram Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 4,200 per sq.ft, the total guideline value would be Rs 42,00,000, leading to a stamp duty of Rs 2,94,000.