Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Perumbakkam village under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,300 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has seen a rise of 10%. The years 2002, 2003, and 2007 have no figures recorded for this street in the register.

Guideline values in Perumbakkam

In Perumbakkam village, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value among these streets is Rs 2,725 per sq.ft, placing Ram Nagar's 2024 figure above this median.

• Ram Garden: Rs 3,300 per sq.ft (2024)
• Ramaniyam Ram Enclave: Rs 3,400 per sq.ft (2024)
• Rathnam Nagar: Rs 3,300 per sq.ft (2024)
• R.M.Veerappan 1st to 4th Cross street: Rs 3,300 per sq.ft (2024)
• Rajendra Prasad Street: Rs 3,300 per sq.ft (2024)
• Rukmani Nagar: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar?

The Sub Registrar Office that covers Ram Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Ram Nagar?

Ram Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Ram Nagar?

The Sub Registrar Office for Ram Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Ram Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.