Guideline Value for Ram Nagar Extn

Ram Nagar Extn guideline value

The current guideline value of Ram Nagar Extn is Rs 2,000 per sq.ft, as per the 2023 revision. This area is located in Kilambakkam village and falls under the Gooduvancheri SRO. The land classification for this region is Mixed Special Type - I.

How the guideline value of Ram Nagar Extn has changed

Over the years, the guideline value of Ram Nagar Extn has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which then increased to Rs 2,000 per sq.ft in the 2012 revision, marking a 100% increase. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 2,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

From the 2007 revision to the 2023 revision, the overall change has been an increase of 100%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 in the register for this street.

Guideline values in Kilambakkam

Currently, there are no specific village figures available for Kilambakkam. However, Ram Nagar Extn is part of the Kilambakkam area, which is under the jurisdiction of the Gooduvancheri SRO.

Stamp duty and registration fee for property in Ram Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, while the registration fee at 2% would be Rs 40,000. Together, the total cost for stamp duty and registration fees would be Rs 1,80,000. 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 detailed calculations.

Which Sub Registrar Office covers Ram Nagar Extn?

The Sub Registrar Office that covers Ram Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Kilambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the government receives the correct revenue based on the property's assessed value.

It is essential for buyers and sellers to be aware of the current guideline value as it directly affects the financial obligations during the registration process. Ensuring compliance with these values helps facilitate a smooth transaction and adherence to legal requirements.

Frequently asked questions

What is the current guideline value of Ram Nagar Extn?

The current guideline value of Ram Nagar Extn is Rs 2,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, then decreased to Rs 1,340 per sq.ft in 2017, and finally returned to Rs 2,000 per sq.ft in 2023.

What is the land classification for Ram Nagar Extn?

The land classification for Ram Nagar Extn is Mixed Special Type - I.

Where is the Gooduvancheri SRO located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total cost of Rs 1,80,000 for stamp duty and registration fees.