Guideline Value for Ram Nagar 6th Main Road

Ram Nagar 6th Main Road guideline value

The current guideline value of Ram Nagar 6th Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Ram Nagar 6th Main Road has changed

The guideline value for Ram Nagar 6th Main Road has seen several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 1,800 per sq.ft. This value increased significantly by 150% to Rs 4,500 per sq.ft in the 2012 revision. The most recent revision in 2024 has further increased the guideline value by 10%, bringing it to Rs 4,950 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2017, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, positioning Ram Nagar 6th Main Road above this median.

• Ram Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Ram Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Ram Nagar 7th Main Road: Rs 4,400 per sq.ft (2024)
• Ram Nagar 5th Main Road: Rs 4,400 per sq.ft (2024)
• Ram Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Ram Nagar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar 6th Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. 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 more detailed calculations.

Which Sub Registrar Office covers Ram Nagar 6th Main Road?

The Sub Registrar Office that covers Ram Nagar 6th Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Velachery. It serves as a baseline for calculating stamp duty and registration fees, ensuring that these fees are based on a standardized value set by the government.

When buying or selling property, the guideline value helps determine the financial obligations involved in the transaction. It is essential for buyers and sellers to be aware of the current guideline value to accurately assess their costs during the registration process.

Frequently asked questions

What is the current guideline value of Ram Nagar 6th Main Road?

The current guideline value of Ram Nagar 6th Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,500 per sq.ft in 2012, and then to Rs 4,950 per sq.ft in 2024. The overall increase from 2007 to 2024 is 175%.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 at 7%, and the registration fee would be Rs 99,000 at 2%, totaling Rs 4,45,500.

Which Sub Registrar Office handles transactions for Ram Nagar 6th Main Road?

The Velacheri Sub Registrar Office handles transactions for Ram Nagar 6th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, with Ram Nagar 6th Main Road's current value being above this median.