Guideline Value for Ram Nagar-I,II,III

Ram Nagar-I,II,III guideline value

The current guideline value for Ram Nagar-I, II, and III is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Karasangal village under the Sriperumpudur SRO, classified as Residential Special Type - III.

How the guideline value of Ram Nagar-I,II,III has changed

The guideline value for Ram Nagar-I, II, and III has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was revised down to Rs 335 per sq.ft. The 2023 revision brought the value back to Rs 500 per sq.ft, and the same value was retained in the 2024 revision, indicating no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows no net change, maintaining the value at Rs 500 per sq.ft.

Guideline values in Karasangal

In Karasangal village, there are 59 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 3,550 per sq.ft. The median value for these streets is Rs 402 per sq.ft, placing the guideline value for Ram Nagar-I, II, and III above this median.

• Rathees City: Rs 600 per sq.ft (2024)
• Royal Homes: Rs 400 per sq.ft (2024)
• RPG Gopika garden: Rs 150 per sq.ft (2024)
• Radiance Jade Garden - II: Rs 3,284 per sq.ft (2024)
• Radiance Jade Garden: Rs 3,284 per sq.ft (2024)
• Ponniamman Koil Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar-I,II,III

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar-I,II,III?

The Sub Registrar Office that covers Ram Nagar-I, II, and III is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Karasangal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to determine the minimum value on which stamp duty is calculated. This means that if the sale price is lower than the guideline value, the duty will be charged based on the guideline value instead.

Frequently asked questions

What is the current guideline value for Ram Nagar-I,II,III?

The current guideline value for Ram Nagar-I, II, and III is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent change being from Rs 500 per sq.ft in 2023 to Rs 500 per sq.ft in 2024. The value was previously Rs 335 per sq.ft in 2017.

What is the land classification for Ram Nagar-I,II,III?

Ram Nagar-I, II, and III are classified as Residential Special Type - III under the guideline value register.

Where is the Sub Registrar Office for Ram Nagar-I,II,III located?

The Sub Registrar Office for Ram Nagar-I, II, and III is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ram Nagar-I,II,III?

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 Rs 500 per sq.ft would incur a total stamp duty and registration fee of Rs 45,000.