Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar is Rs 2,000 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Mixed Special Type - I land.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,000 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2012 revision, marking a 100% increase. However, in the 2017 revision, the value dropped to Rs 1,340 per sq.ft, a decrease of 33% from the previous figure. The most recent revision in 2023 brought the guideline value back up to Rs 2,000 per sq.ft, representing a significant increase of 49% from the 2017 revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has doubled, reflecting a 100% increase over this period. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Kilambakkam

Currently, there are no specific guideline values available for other streets in Kilambakkam under the Gooduvancheri SRO. Therefore, Ram Nagar stands out with its current guideline value of Rs 2,000 per sq.ft.

Stamp duty and registration fee for property in Ram Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty is charged at 7%, which totals Rs 1,40,000, while the registration fee is charged at 2%, amounting to Rs 40,000. Together, these fees total Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar?

The Sub Registrar Office covering Ram Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kilambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is essential for ensuring that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When selling property, the guideline value helps establish a baseline for the sale price. Buyers and sellers often use this value as a reference point during negotiations, ensuring that both parties have a clear understanding of the property's worth according to official records.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 2,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, then decreased to Rs 1,340 per sq.ft in 2017, and finally returned to Rs 2,000 per sq.ft in 2023.

What is the land classification of Ram Nagar?

Ram Nagar is classified as Mixed Special Type - I land, as per the records.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Ram Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total costs can amount to Rs 1,80,000.