Guideline Value for Ram Nagar Extn

Ram Nagar Extn guideline value

The current guideline value of Ram Nagar Extn is Rs 100 per sq.ft, effective from 1 July 2024. This property is located in Kendiracherry village, under the Madurandakam SRO, and is classified as Residential Class I 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 most recent revision in 2024 maintains the guideline value at Rs 100 per sq.ft, the same as in 2023. Prior to that, the 2017 revision recorded a value of Rs 67 per sq.ft, which represented a significant increase of 49% from the previous 2023 figure. The 2012 revision also set the value at Rs 100 per sq.ft, but this was a decrease of 33% from the 2017 figure. The 2007 revision marked a substantial increase to Rs 25 per sq.ft, which was a 300% rise from the 2002 and 2003 revisions that have no figure recorded for this street.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The fluctuation in values reflects the changes in the real estate landscape over the years, with the guideline value stabilizing at Rs 100 per sq.ft in the recent revisions.

Guideline values in Kendiracherry

In Kendiracherry, there are 17 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 100 per sq.ft. The guideline value of Ram Nagar Extn aligns with this median.

• Ram Nagar: Rs 100 per sq.ft (2024)
• Sai Serveshwara Garden: Rs 250 per sq.ft (2024)
• Prince Park: Rs 100 per sq.ft (2024)
• Prakash Park: Rs 100 per sq.ft (2024)
• Lake View: Rs 300 per sq.ft (2024)
• Vgp Viaan City: Rs 300 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the 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 Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kendiracherry. It serves as the basis for calculating the stamp duty and registration fees that are payable when a property is bought or sold.

When a buyer or seller registers a property, the guideline value is used to determine the applicable fees, ensuring compliance with local regulations. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ram Nagar Extn?

The current guideline value of Ram Nagar Extn is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 100 per sq.ft. Significant changes occurred between 2017 and 2023, where the value increased by 49% from Rs 67 per sq.ft to Rs 100 per sq.ft.

What are the other streets in Kendiracherry with their guideline values?

Other streets in Kendiracherry include Ram Nagar, Sai Serveshwara Garden, Prince Park, Prakash Park, Lake View, and Vgp Viaan City, with guideline values ranging from Rs 100 to Rs 300 per sq.ft.

How is stamp duty calculated for properties in Ram Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 100 per sq.ft would incur a total stamp duty of Rs 7,000.

Where can I find the Sub Registrar Office for Ram Nagar Extn?

The Sub Registrar Office for Ram Nagar Extn is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find more information about your SRO online.