Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Kendiracherry village under the Madurandakam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ram Nagar has changed

Over the years, the guideline value for Ram Nagar has seen several revisions. In 2007, the value was Rs 25 per sq.ft, which increased significantly to Rs 100 per sq.ft in 2012. However, it then decreased to Rs 67 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 100 per sq.ft, indicating no change from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2007 to 2012 was a remarkable 300%. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Kendiracherry

Kendiracherry village features 17 streets under the Madurandakam SRO, with guideline values ranging from Rs 100 to Rs 300 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, placing Ram Nagar's 2024 figure at the median level.

• Ram Nagar Extn: Rs 100 per sq.ft (2024)
• Sai Serveshwara Garden: Rs 250 per sq.ft (2024)
• Prince Park: Rs 100 per sq.ft (2024)
• Prakash Park: Rs 100 per sq.ft (2024)
• Lake View: Rs 300 per sq.ft (2024)
• Vgp Viaan City: Rs 300 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. Please 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 Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kendiracherry. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. When registering a property, the guideline value serves as the baseline for calculating these fees, ensuring that the transaction is officially recorded.

Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions. It is essential to check the current guideline value to understand the financial implications of buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 25 per sq.ft in 2007 to Rs 100 per sq.ft in 2012, decreased to Rs 67 per sq.ft in 2017, and has remained at Rs 100 per sq.ft in both 2023 and 2024.

What is the median guideline value in Kendiracherry?

The median guideline value for the streets in Kendiracherry is Rs 100 per sq.ft, which is the same as the current value for Ram Nagar.

What are the registration fees for property in Ram Nagar?

The registration fees for a property in Ram Nagar include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ram Nagar located?

The Sub Registrar Office for Ram Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.