Guideline Value for Ram Nagar 3rd Cross Street

Ram Nagar 3rd Cross Street guideline value

The current guideline value of Ram Nagar 3rd Cross Street 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 3rd Cross Street has changed

Over the years, the guideline value for Ram Nagar 3rd Cross Street has seen significant changes. The 2007 revision set the value at Rs 800 per sq.ft, which increased to Rs 3,900 per sq.ft in 2012, marking a substantial rise of 388%. However, the value dropped by 33% to Rs 2,613 per sq.ft in 2017. The 2023 revision raised it to Rs 3,900 per sq.ft, and the most recent 2024 revision has further increased it to Rs 4,200 per sq.ft, reflecting an increase of 8% from the previous year.

The overall change from the 2007 revision to the 2024 revision shows a remarkable increase of 425%. It is important to note that there are no figures available for the years 2002 and 2003 in the register 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. The median value for these streets is Rs 3,301 per sq.ft, positioning Ram Nagar 3rd Cross Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Ram Nagar 3rd 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, calculated 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 the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar 3rd Cross Street?

The Sub Registrar Office covering Ram Nagar 3rd 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 plays a crucial role in the property registration process in Peravallur. It is the minimum value set by the government for property transactions, ensuring that the property is registered at a value that reflects its worth according to the latest revisions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are transparent and in accordance with the legal framework established by the Registration Department.

Frequently asked questions

What is the current guideline value of Ram Nagar 3rd Cross Street?

The current guideline value of Ram Nagar 3rd 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 800 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of 425%.

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 3rd Cross Street's value above this median.

Where is the Sembiam Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,200 per sq.ft incurs a total fee of Rs 3,78,000.