Guideline Value for Ram Nagar 5th Street

Ram Nagar 5th Street guideline value

The current guideline value of Ram Nagar 5th 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Ram Nagar 5th Street has changed

The guideline value for Ram Nagar 5th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 357 per sq.ft. It increased to Rs 650 per sq.ft in 2003, marking an increase of 82%. The value continued to rise significantly, reaching Rs 1,871 per sq.ft in 2007, which was a 188% increase from the previous figure. In 2012, the value was Rs 3,000 per sq.ft, reflecting a decrease of 33% from 2017's figure of Rs 2,010 per sq.ft. The value then rose to Rs 3,000 per sq.ft again in 2012.

From 2017 to 2023, the guideline value increased to Rs 3,000 per sq.ft, and then to Rs 3,300 per sq.ft in the 2024 revision, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has risen by 824%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value range from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, making the guideline value of Ram Nagar 5th Street below this median.

• Ram Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 4th Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 7th 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)

Stamp duty and registration fee for property in Ram Nagar 5th Street

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 the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar 5th Street?

The Sub Registrar Office that covers Ram Nagar 5th 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 is an essential factor when buying or selling property in Adambakkam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for calculating the applicable duties.

When registering property, it is crucial to ensure that the guideline value is accurately reflected in the documentation. This helps in avoiding any legal complications and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ram Nagar 5th Street?

The current guideline value of Ram Nagar 5th 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 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 the years.

What is the registration fee for property in Ram Nagar 5th Street?

The registration fee for property in Ram Nagar 5th Street is calculated based on the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the registration fee would be Rs 66,000 at 2%.

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.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, which is higher than the current guideline value of Ram Nagar 5th Street.