Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Katrampakkam B 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

The guideline value for Ram Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 250 per sq.ft, the same as in 2023. Prior to that, in 2017, the guideline value was Rs 167 per sq.ft, marking a 50% increase to the current value. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 50%, bringing it from Rs 167 per sq.ft to Rs 250 per sq.ft. Overall, from 2017 to 2024, the increase is also 50%, as the value remains unchanged from 2023 to 2024.

Guideline values in Katrampakkam B

Katrampakkam B village has 44 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 150 to Rs 800 per sq.ft as of 2024. The median guideline value for these streets is Rs 275 per sq.ft, making Ram Nagar's current value of Rs 250 per sq.ft lower than the median.

• 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 is calculated at 7%, resulting in Rs 17,500, while the registration fee is 2%, amounting to Rs 5,000. Therefore, the total cost for stamp duty and registration fee would be 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 our 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 B

The guideline value serves as a benchmark for property transactions in Katrampakkam B. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of property transactions. Accurate knowledge of the guideline value ensures compliance with legal requirements 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 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2023 to 2024, and increased by 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification of Ram Nagar?

Ram Nagar is classified as Residential Class III Type - I according to the land classification guidelines.

Where is the Sub Registrar Office for Ram Nagar located?

The Sub Registrar Office for Ram Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, in the Chengalpattu registration zone.

How is stamp duty calculated in Ram Nagar?

Stamp duty in Ram Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500.