Guideline Value for Ram Nagar 4th Street

Ram Nagar 4th Street guideline value

The current guideline value of Ram Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the jurisdiction of the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ram Nagar 4th Street has changed

The guideline value for Ram Nagar 4th Street has seen several revisions over the years. Starting from Rs 357 per sq.ft in 2002, the value increased to Rs 600 per sq.ft in 2003, marking a change of +68%. By 2007, the value rose significantly to Rs 900 per sq.ft, an increase of +50%. The 2012 revision saw the value at Rs 3,000 per sq.ft, which was a notable increase of +233% from the previous figure. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a change of -33%. The value climbed again to Rs 3,000 per sq.ft in 2023, and most recently, it reached Rs 3,300 per sq.ft in 2024, representing a +10% increase.

There are no figures available for the revisions prior to 2002, and the register has no figure for this street in the years not 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 4th Street's 2024 figure below that median.

• Ram Nagar 4th Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 5th 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 6th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, together totaling Rs 2,97,000. 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 information.

Which Sub Registrar Office covers Ram Nagar 4th Street?

The Sub Registrar Office that covers Ram Nagar 4th 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 details.

How the guideline value is used when you buy or sell in Adambakkam

The guideline value is a critical factor when registering property transactions in Adambakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps to standardize property valuations across the region. It provides a reference point for both buyers and sellers, ensuring transparency in the transaction process.

Frequently asked questions

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

The current guideline value of Ram Nagar 4th 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 this period.

What is the median guideline value for streets in Adambakkam?

The median guideline value for streets in Adambakkam is Rs 3,900 per sq.ft, which is higher than the current value of Ram Nagar 4th Street.

What are the stamp duty and registration fees for property in Ram Nagar 4th Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles the registration for Ram Nagar 4th Street?

The Alandur Sub Registrar Office handles the registration for Ram Nagar 4th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.