Guideline Value for Ram Nagar 6th Street

Ram Nagar 6th Street guideline value

The current guideline value of Ram Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Ram Nagar 6th Street has changed

The guideline value for Ram Nagar 6th Street has seen several revisions over the years. In 2002, the guideline value was Rs 362 per sq.ft. This increased to Rs 650 per sq.ft in 2003, marking an 80% rise. The value continued to climb, reaching Rs 1,871 per sq.ft in 2007, which was a significant increase of 188%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a 60% increase from the previous revision. However, it dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and then it increased to Rs 3,300 per sq.ft in 2024, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 812%. There are no figures available for any other revisions for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a guideline value for 2024, ranging 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, placing Ram Nagar 6th Street's 2024 figure below that median.

• Ram Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 4th Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 9th Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, leading to a total of 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar 6th Street?

The Sub Registrar Office that covers Ram Nagar 6th 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 plays a crucial role in the registration process for 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 negotiating sale prices, as the registration fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, understanding the guideline value helps in estimating the overall costs involved, including stamp duty and registration fees. It is essential for both buyers and sellers to be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

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

The current guideline value of Ram Nagar 6th 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 362 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 812% over the years.

What is the registration fee for property in Ram Nagar 6th Street?

The registration fee for property in Ram Nagar 6th Street is calculated at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ram Nagar 6th Street located?

The Sub Registrar Office for Ram Nagar 6th Street 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 6th Street.