Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Thalakanancherry village under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - II land classification.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,700 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 135% rise. However, it saw a decrease to Rs 2,680 per sq.ft in 2017, which was a 33% drop. The value then rose sharply to Rs 4,000 per sq.ft in 2023, followed by another increase to the current value of Rs 4,400 per sq.ft in 2024, representing a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 159%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 3,900 per sq.ft, placing Ram Nagar's value above this median.

• Ranga Colony (alies) Rangaiya Colony: Rs 4,400 per sq.ft (2024)
• Rangarajapuram Street: Rs 4,400 per sq.ft (2024)
• Rathinapuram Main: Rs 2,800 per sq.ft (2024)
• Rathinapuram Malaicharivu Street: Rs 2,800 per sq.ft (2024)
• Rathinapuram Moovarasam Pettai: Rs 2,800 per sq.ft (2024)
• Rathnapuram Yerikkarai Street: Rs 2,800 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Thalakanancherry. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for any property transaction.

When buying or selling property, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration process will involve verifying the guideline value to determine the applicable fees.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 159%.

What are the registration fees for property in Ram Nagar?

The registration fees for property in Ram Nagar include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registrations in Ram Nagar?

The Alandur Sub Registrar Office handles property registrations in Ram Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Thalakanancherry?

The median guideline value in Thalakanancherry is Rs 3,900 per sq.ft, with Ram Nagar's current value exceeding this median.