Guideline Value for Ram Nagar Extension

Ram Nagar Extension guideline value

The current guideline value of Ram Nagar Extension in Peravallur village is Rs 4,200 per sq.ft, effective from 1 July 2024. This area falls under the Sembiam SRO and is classified as Mixed Type - I.

How the guideline value of Ram Nagar Extension has changed

The guideline value for Ram Nagar Extension has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 410 per sq.ft. This increased to Rs 447 per sq.ft in 2003, marking a rise of 9%. The value then saw a significant jump to Rs 800 per sq.ft in 2007, which was an increase of 79%. In 2012, the value rose to Rs 3,900 per sq.ft, reflecting a substantial increase of 388%. However, it dropped to Rs 2,613 per sq.ft in 2017, a decline of 33%. The value then increased again to Rs 3,900 per sq.ft in 2023, followed by the current rate of Rs 4,200 per sq.ft in 2024, which is an increase of 8% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 924%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, placing Ram Nagar Extension above this median.

• Ram Nagar 4th Main Road: Rs 4,200 per sq.ft (2024)
• Ram Nagar 4th Cross Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 3rd Street Lane: Rs 4,200 per sq.ft (2024)
• Ram Nagar New Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 3rd Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar 3rd Main Road: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value amounts to Rs 42,00,000. The stamp duty at 7% would be Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, totaling Rs 3,78,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar Extension?

The Sub Registrar Office that covers Ram Nagar Extension is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor when buying or selling property in Peravallur. It serves as a benchmark for determining the registration fees and stamp duty payable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are accurately recorded and taxed according to the established rates.

Frequently asked questions

What is the current guideline value of Ram Nagar Extension?

The current guideline value of Ram Nagar Extension is Rs 4,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, starting from Rs 410 per sq.ft in 2002 to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of 924% over this period.

What are the stamp duty rates in Ram Nagar Extension?

The stamp duty rate in Ram Nagar Extension is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ram Nagar Extension located?

The Sembiam Sub Registrar Office, which covers Ram Nagar Extension, is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value for streets in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, with Ram Nagar Extension's value being above this median.