Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Ram Nagar has changed

In the 2007 revision, the guideline value was Rs 175 per sq.ft. This figure increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a 300% rise. However, in the 2017 revision, the value decreased to Rs 469 per sq.ft, a drop of 33%. The 2023 revision maintained the value at Rs 700 per sq.ft, and the 2024 revision also kept it at Rs 700 per sq.ft, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. It is noteworthy that there are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with the median value being Rs 700 per sq.ft. The guideline value for Ram Nagar aligns perfectly with this median.

• Ravindranath Tagore Nagar: Rs 700 per sq.ft (2024)
• Rishi Gardan: Rs 801 per sq.ft (2024)
• Rajeswari Nagar: Rs 2,986 per sq.ft (2024)
• Rajeev Nagar: Rs 700 per sq.ft (2024)
• R.R Avenue: Rs 1,500 per sq.ft (2024)
• Ragavendra Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total charges to Rs 63,000. 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 more details.

Which Sub Registrar Office covers Ram Nagar?

The Sub Registrar Office covering Ram Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Kayirambedu. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 175 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then dropping to Rs 469 per sq.ft in 2017. It has remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification of Ram Nagar?

Ram Nagar is classified as Residential Special Type - II, which influences its guideline value and usage.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ram Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Ram Nagar.