Guideline Value for Ram Nagar 4thcross Road

Ram Nagar 4thcross Road guideline value

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

How the guideline value of Ram Nagar 4thcross Road has changed

The guideline value for Ram Nagar 4thcross Road has seen significant changes over the years. In 2002, the guideline value was Rs 357 per sq.ft, which increased to Rs 600 per sq.ft in 2003, marking a 68% increase. The value continued to rise, reaching Rs 900 per sq.ft in 2007, a 50% increase from the previous revision. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, reflecting a substantial 233% increase from 2007. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33% from 2012. The guideline value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, representing a 10% increase from the previous year.

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

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 guideline value for these streets is Rs 3,900 per sq.ft, placing Ram Nagar 4thcross Road's 2024 figure below that median.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to 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, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar 4thcross Road?

The Sub Registrar Office that covers Ram Nagar 4thcross 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 plays a crucial role in property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when finalizing the sale price to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

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

The current guideline value of Ram Nagar 4thcross 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 significantly 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 land classification for Ram Nagar 4thcross Road?

The land classification for Ram Nagar 4thcross Road is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Ram Nagar 4thcross Road?

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

How is the stamp duty calculated for property in Ram Nagar 4thcross 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 at 7% would be Rs 2,31,000.