Guideline Value for Ram Nagar 4th Main Road

Ram Nagar 4th Main Road guideline value

The current guideline value of Ram Nagar 4th Main Road 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 4th Main Road has changed

The guideline value for Ram Nagar 4th Main Road has seen several revisions over the years. Starting from Rs 380 per sq.ft in 2002, it increased to Rs 650 per sq.ft in 2003, marking a 71% rise. The value then rose to Rs 900 per sq.ft in 2007, which was a 38% increase. Following that, it saw a significant jump to Rs 3,000 per sq.ft in 2012, reflecting a 233% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, which was a 49% rise, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, marking a 10% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 768% in the guideline value.

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, with a median value of Rs 3,900 per sq.ft. The guideline value for Ram Nagar 4th Main Road is below this median.

• Ram Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 4thcross Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 2nd Street/ 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar 4th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Ram Nagar 4th Main Road?

The Sub Registrar Office that covers Ram Nagar 4th Main Road 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 is a critical factor in the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of property transactions. It ensures that the government receives the correct revenue from stamp duty and registration fees based on the property's value.

Frequently asked questions

What is the current guideline value of Ram Nagar 4th Main Road?

The current guideline value of Ram Nagar 4th Main Road 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 380 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 768% over this period.

What is the land classification for Ram Nagar 4th Main Road?

Ram Nagar 4th Main Road is classified as Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Ram Nagar 4th Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of that amount.