Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Keeloor village under the Thiruporur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Ram Nagar has changed

Over the years, the guideline value for Ram Nagar has seen various revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision marked a significant increase to Rs 201 per sq.ft, reflecting a 49% rise from the previous figure. However, the value returned to Rs 300 per sq.ft in 2024, showing no overall change from the 2012 figure.

Notably, there are no recorded figures for the years 2002, 2003, and 2007 in the guideline value register for this street. The latest revision in 2024, maintaining the Rs 300 per sq.ft rate, indicates stability in the guideline value for Ram Nagar over the past years.

Guideline values in Keeloor

In Keeloor village, there are three streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 500 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Ram Nagar's 2024 figure below this median.

• Gomathi Amman Nagar Phase I: Rs 500 per sq.ft (2024)
• Gomathi Amman Nagar Phase II: Rs 500 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000. Together, the total cost for these fees would be Rs 27,000. It is important to note that 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 more precise calculations.

Which Sub Registrar Office covers Ram Nagar?

The Sub Registrar Office that covers Ram Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Keeloor, as it determines the minimum price at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ram Nagar?

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

How has the guideline value changed over the years?

The guideline value for Ram Nagar has remained at Rs 300 per sq.ft in the revisions of 2023 and 2024, while it was Rs 201 per sq.ft in 2017 and Rs 300 per sq.ft in 2012. There are no figures recorded for the years 2002, 2003, and 2007.

What is the land classification for Ram Nagar?

Ram Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Ram Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Ram Nagar?

The Thiruporur Sub Registrar Office covers Ram Nagar, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.