Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Periyapanancheri village, is Rs 1,320 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification within the Pammal SRO.

How the guideline value of Ram Nagar has changed

The guideline value of Ram Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft. This figure increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 990 to Rs 4,925 per sq.ft. The median value among these streets is Rs 1,320 per sq.ft, which is equal to the guideline value of Ram Nagar.

• Rukmani Street: Rs 1,320 per sq.ft (2024)
• Purushothaman Nagar Phase II: Rs 1,650 per sq.ft (2024)
• Purushothaman Nagar: Rs 1,650 per sq.ft (2024)
• Sree Ambal Nagar: Rs 1,650 per sq.ft (2024)
• N.S.K.Street: Rs 990 per sq.ft (2024)
• Mani Nagar: 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, leading to a total of Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Ram Nagar?

Ram Nagar falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Periyapanancheri

The guideline value plays a crucial role in the registration process of property transactions in Periyapanancheri. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered the minimum value for the transaction, ensuring that the government receives the appropriate revenue from property sales. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

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 much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft, which is an overall increase of 64%.

What is the stamp duty rate for property transactions in Ram Nagar?

The stamp duty rate for property transactions in Ram Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

What are the guideline values of other streets in Periyapanancheri?

Other streets in Periyapanancheri have varying guideline values, with rates ranging from Rs 990 to Rs 4,925 per sq.ft. The median value is Rs 1,320 per sq.ft, which is the same as Ram Nagar's guideline value.