Guideline Value for Ram Nagar 8th Street

Ram Nagar 8th Street guideline value

The current guideline value of Ram Nagar 8th 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 is classified as Residential Class II Type - I.

How the guideline value of Ram Nagar 8th Street has changed

The guideline value of Ram Nagar 8th Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 339 per sq.ft. This increased to Rs 650 per sq.ft in 2003, marking a change of +92%. The value then rose to Rs 900 per sq.ft in 2007, which was a +38% increase. In 2012, the guideline value was Rs 3,000 per sq.ft, reflecting a significant increase of +233% from the previous revision. However, in 2017, it decreased to Rs 2,010 per sq.ft, resulting in a -33% change. The value then increased to Rs 3,000 per sq.ft in 2023, which was a +49% rise. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, showing a +10% increase from the previous year.

There are no figures for the revisions in the years not mentioned in the list provided.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Ram Nagar 8th Street is below this median.

• Ram Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 6th 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 4th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar 8th Street?

The Sub Registrar Office that covers Ram Nagar 8th 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 a crucial factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the value of the property for registration purposes. Buyers and sellers must consider this value to ensure compliance with the registration requirements.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. The fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ram Nagar 8th Street?

The current guideline value of Ram Nagar 8th 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 339 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of +873% over the years.

What are the stamp duty and registration fees for properties in Ram Nagar 8th Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Alandur Sub Registrar Office covers Ram Nagar 8th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Ram Nagar 8th Street?

Ram Nagar 8th Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.