Guideline Value for Ram Nagar Extn

Ram Nagar Extn guideline value

The current guideline value of Ram Nagar Extn is Rs 1,325 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ram Nagar Extn has changed

The guideline value for Ram Nagar Extn has seen several revisions over the years. The oldest recorded figure is from 2007, where it was Rs 302 per sq.ft. In 2012, it rose to Rs 1,200 per sq.ft, but then decreased to Rs 804 per sq.ft in 2017. The value increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,325 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the value increased by 297%, followed by a decrease of 33% from 2012 to 2017. However, the value saw a substantial increase of 49% from 2017 to 2023, and then a further increase of 10% from 2023 to 2024. Overall, the guideline value has increased by 339% from 2007 to 2024.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median value is Rs 1,215 per sq.ft, which means Ram Nagar Extn's current rate is above that median.

• Ram Nagar: Rs 1,320 per sq.ft (2024)
• Ramakrishna Salai: Rs 1,540 per sq.ft (2024)
• Ramakrishna Nagar: Rs 1,110 per sq.ft (2024)
• Rajiv Street: Rs 1,100 per sq.ft (2024)
• Rajathi Kalaigar Nagar: Rs 1,320 per sq.ft (2024)
• Sai Avenue: Rs 1,320 per sq.ft (2024)

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 1,325 per sq.ft, the total guideline value would be Rs 13,25,000. The stamp duty at 7% would amount to Rs 92,750, and the registration fee at 2% would be Rs 26,500, bringing the total fees together to Rs 1,19,250. 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 further 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, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mannivakkam, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions. The guideline value also serves as a benchmark for assessing property prices in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar Extn?

The current guideline value of Ram Nagar Extn is Rs 1,325 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 302 per sq.ft in 2007 to Rs 1,325 per sq.ft in 2024, representing an overall increase of 339% over the years.

What are the stamp duty and registration fees for properties in Ram Nagar Extn?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,19,250.

Which Sub Registrar Office is responsible for Ram Nagar Extn?

The Gooduvancheri Sub Registrar Office is responsible for Ram Nagar Extn, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum registration value for properties and is used to calculate the stamp duty and registration fees during transactions. It ensures compliance with legal requirements in property dealings.