Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Katrampakkam village under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Ram Nagar has changed

Looking at the historical revisions, the guideline value for Ram Nagar was Rs 250 per sq.ft in the 2023 revision, which is the same as the current 2024 revision. Before that, in the 2017 revision, the value was Rs 167 per sq.ft, indicating a 50% increase from 2017 to 2023. The 2012 revision also had a value of Rs 250 per sq.ft, showing a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Katrampakkam

In Katrampakkam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 800 per sq.ft. The median value is Rs 250 per sq.ft, which is equal to the current guideline value of Ram Nagar.

• Royal Homes: Rs 400 per sq.ft (2024)
• Quidemillath Nagar: Rs 250 per sq.ft (2024)
• Poongavanaththamman Koil Street: Rs 250 per sq.ft (2024)
• Sathiya Sai Nagar: Rs 250 per sq.ft (2024)
• Selliyamman Koil Street: Rs 300 per sq.ft (2024)
• Perumal Koil Street: Rs 250 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Katrampakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this value, ensuring that the government receives appropriate revenue from property transactions.

When purchasing property, it is crucial to consider the guideline value to avoid any discrepancies during registration. Both buyers and sellers should ensure that the sale price is in line with the guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ram Nagar has seen various revisions, with the most recent being Rs 250 per sq.ft in both 2023 and 2024. The value increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification for Ram Nagar?

Ram Nagar falls under the Residential Class III Type - I land classification, which is significant for determining the usage and regulations applicable to the property.

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

The Sub Registrar Office for Ram Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all property registrations in the area.

How is stamp duty calculated for properties in Ram Nagar?

Stamp duty for properties in Ram Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable, ensuring that all transactions are properly documented and taxed.