Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Mannivakkam village under the Gooduvancheri SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 302 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 297%. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, a drop of 33%. The following revision in 2023 saw the value rise to Rs 1,200 per sq.ft, and in the latest 2024 revision, it further increased to Rs 1,320 per sq.ft, reflecting a growth of 10% from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 337%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value for Ram Nagar is above this median.

• Ram Nagar Extn: Rs 1,325 per sq.ft (2024)
• Ramakrishna Salai: Rs 1,540 per sq.ft (2024)
• Ramakrishna Nagar: Rs 1,110 per sq.ft (2024)
• Rajiv Street: Rs 1,100 per sq.ft (2024)
• Rajathi Kalaigar Nagar: Rs 1,320 per sq.ft (2024)
• Sai Avenue: Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Mannivakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during property transactions.

When a property is bought or sold, the guideline value serves as a benchmark for calculating the applicable fees. This ensures that the registration process is transparent and standardized across different properties in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, a change of 10%. The overall increase from 2007 to 2024 is 337%.

What are the guideline values of other streets in Mannivakkam?

Other streets in Mannivakkam have varying guideline values, with Ram Nagar Extn at Rs 1,325 per sq.ft, Ramakrishna Salai at Rs 1,540 per sq.ft, and Rajiv Street at Rs 1,100 per sq.ft, among others.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ram Nagar located?

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