Guideline Value for Ram Nagar 3rd Main Road

Ram Nagar 3rd Main Road guideline value

The current guideline value of Ram Nagar 3rd Main Road is Rs 4,200 per sq.ft, effective from 1 July 2024. This road is located in Peravallur village, under the Sembiam SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Ram Nagar 3rd Main Road has changed

The guideline value for Ram Nagar 3rd Main Road has seen significant changes over the years. In the 2002 revision, the value was Rs 391 per sq.ft, which increased to Rs 426 per sq.ft in 2003, marking a change of +9%. The value then rose dramatically to Rs 800 per sq.ft in 2007, reflecting an increase of +88%. Following this, the 2012 revision saw the value at Rs 3,900 per sq.ft, which was a substantial rise of +388% from the previous figure. However, the 2017 revision brought it down to Rs 2,613 per sq.ft, a decrease of -33%. The value then increased 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% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +974%. There are no figures available in the register for revisions in years not listed above.

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 3rd Main Road's 2024 figure above that median.

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

Stamp duty and registration fee for property in Ram Nagar 3rd Main Road

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

Which Sub Registrar Office covers Ram Nagar 3rd Main Road?

The Sub Registrar Office covering Ram Nagar 3rd Main Road 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 critical factor when buying or selling property in Peravallur, as it serves as a reference for determining the stamp duty and registration fees. When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

It is essential to understand that the guideline value may differ from the actual sale price of a property. However, the duty will be charged based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ram Nagar 3rd Main Road?

The current guideline value of Ram Nagar 3rd 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 significantly, starting 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 for Ram Nagar 3rd Main Road?

The land classification for Ram Nagar 3rd Main Road is Mixed Type - I, indicating a diverse use of land in this area.

Where is the Sub Registrar Office located for this area?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, which covers Ram Nagar 3rd Main Road.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur fees totaling Rs 3,78,000.