Guideline Value for Ram Nagar 3rd Street Lane

Ram Nagar 3rd Street Lane guideline value

The current guideline value of Ram Nagar 3rd Street Lane is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and it falls under the Mixed Type - I land classification.

How the guideline value of Ram Nagar 3rd Street Lane has changed

The guideline value for Ram Nagar 3rd Street Lane has seen significant changes over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased dramatically to Rs 3,900 per sq.ft in 2012, marking a 290% rise. However, it then dropped to Rs 2,613 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,900 per sq.ft in 2023, and currently stands at Rs 4,200 per sq.ft as of the 2024 revision, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 320%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, making the current value of Ram Nagar 3rd Street Lane above this median.

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

Stamp duty and registration fee for property in Ram Nagar 3rd Street Lane

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 cost for these fees to Rs 3,78,000. Duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering Ram Nagar 3rd Street Lane 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 figure used during property registration in Peravallur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transaction. It is important for buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Ram Nagar 3rd Street Lane 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 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, showing a significant increase over the years.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, which is lower than the current value of Ram Nagar 3rd Street Lane.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 42,00,000, the stamp duty would be Rs 2,94,000 and the registration fee would be Rs 84,000, totaling Rs 3,78,000.

Which office handles registrations for Ram Nagar 3rd Street Lane?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011 handles registrations for Ram Nagar 3rd Street Lane.