Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value for Ram Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Ram Nagar has changed

Over the years, the guideline value of Ram Nagar has seen several revisions. The 2007 revision set the value at Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, this value saw a decrease of 33% to Rs 804 per sq.ft in the 2017 revision. In the subsequent 2023 revision, the value remained unchanged at Rs 1,200 per sq.ft, and this figure continues into the 2024 revision, indicating no change from the previous year.

From 2007 to 2024, the overall change in guideline value is an increase of 390%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, making Ram Nagar's current guideline value equal to this median.

• Rajeshwari Nagar: Rs 1,200 per sq.ft (2024)
• Sadasiva Nagar: Rs 1,200 per sq.ft (2024)
• Sadasiva Nagar Extn-I,II: Rs 1,200 per sq.ft (2024)
• Sai Avenue: Rs 1,201 per sq.ft (2024)
• Sakthi Avenue: Rs 1,200 per sq.ft (2024)
• Priya Nagar: Rs 1,200 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees together to Rs 1,08,000. 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 that covers Ram Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property. It is essential to refer to the latest revisions to ensure compliance with the current rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and remained at Rs 1,200 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 1,200 per sq.ft, which is the same as the current guideline value for Ram Nagar.

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

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which office handles property registrations in Ram Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations in Ram Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202.