Guideline Value for Ram Nagar 3rd Street

Ram Nagar 3rd Street guideline value

The current guideline value of Ram Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class II Type - I land classification.

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

The guideline value for Ram Nagar 3rd Street has seen significant changes over the years. In 2002, the value was Rs 357 per sq.ft. This increased to Rs 650 per sq.ft in 2003, marking an increase of 82%. The value further rose to Rs 900 per sq.ft in 2007, reflecting a 38% increase. The 2012 revision saw the value drop to Rs 3,000 per sq.ft, a decrease of 233%. However, by 2017, it had climbed back to Rs 2,010 per sq.ft, which was a 49% increase. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 824%. There are no figures available for the revisions in years other than those listed.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Ram Nagar 3rd Street's 2024 figure below the median.

• Ram Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 4thcross Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 2nd Street/ 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 4th Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Ram nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar 3rd Street?

The Sub Registrar Office that covers Ram Nagar 3rd Street 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 Adambakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is documented accurately and that the appropriate taxes are collected by the authorities.

Frequently asked questions

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

The current guideline value of Ram Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 357 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 824% over the years.

What is the median guideline value in Adambakkam?

The median guideline value for streets in Adambakkam under the Alandur SRO is Rs 3,900 per sq.ft, which is above the current value of Ram Nagar 3rd Street.

What are the stamp duty and registration fees for property in Ram Nagar 3rd Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 2,97,000, calculated based on the guideline value of Rs 33,00,000.

Which office handles the registration for Ram Nagar 3rd Street?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, handles the registration for Ram Nagar 3rd Street.