Guideline Value for Ram Nagar New Street

Ram Nagar New Street guideline value

The current guideline value of Ram Nagar New Street in Peravallur village, under the Sembiam SRO, is Rs 4,200 per sq.ft, effective from 1 July 2024. The land classification for this street is Mixed Type - I.

How the guideline value of Ram Nagar New Street has changed

The guideline value for Ram Nagar New Street has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,900 per sq.ft in 2012. However, there was a decrease to Rs 2,613 per sq.ft in the 2017 revision. The value then rose sharply to Rs 3,900 per sq.ft in 2023, before reaching the current value of Rs 4,200 per sq.ft in 2024.

In terms of percentage changes, the value increased by 388% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2007 to 2024, the guideline value has increased by 425%. The register has no figures for the years 2002 and 2003 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, with a median value of Rs 3,301 per sq.ft. The guideline value for Ram Nagar New Street is above this median.

• Ram Nagar Extension: Rs 4,200 per sq.ft (2024)
• 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 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 New Street

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

Which Sub Registrar Office covers Ram Nagar New Street?

The Sub Registrar Office that covers Ram Nagar New Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in compliance with the local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ram Nagar New Street?

The current guideline value of Ram Nagar New Street 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 changed significantly from Rs 800 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, reflecting a total increase of 425% over this period.

What are the other streets with the same guideline value in Peravallur?

Other streets in Peravallur that share the same guideline value of Rs 4,200 per sq.ft include Ram Nagar Extension, Ram Nagar 4th Main Road, Ram Nagar 4th Cross Street, Ram Nagar 3rd Street Lane, Ram Nagar 3rd Street, and Ram Nagar 3rd Main Road.

What is the registration fee for property in Ram Nagar New Street?

The registration fee for property in Ram Nagar New Street is calculated based on the guideline value. For example, for a property valued at Rs 42,00,000, the registration fee would be Rs 84,000 at a rate of 2%.

Which office handles property registrations in this area?

The Sembiam Sub Registrar Office handles property registrations for Ram Nagar New Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.