Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Noombal village under the Kunrathur SRO, is Rs 2,090 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

The guideline value for Ram Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,273 per sq.ft, which was then increased to Rs 1,900 per sq.ft in the 2023 revision. The most recent 2024 revision reflects a significant rise to Rs 2,090 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means that the only available revisions are from 2017, 2023, and the current 2024 figures.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The 2024 guideline value of Rs 2,090 per sq.ft for Ram Nagar is equal to the median value for the village.

• Ramas Encalve: Rs 2,090 per sq.ft (2024)
• Ranga Colony: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar Selva Vinayagar Koil Street: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar Main Road Ist Cross Street: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar Main Road 4th Cross Street: Rs 2,090 per sq.ft (2024)
• Rajiv Nagar Main Road 3rd Cross Street: Rs 2,090 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Noombal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall costs involved in the transaction. Buyers should ensure they are informed about the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,273 per sq.ft in 2017 to Rs 1,900 per sq.ft in 2023, and then to Rs 2,090 per sq.ft in 2024, marking a total increase of 64% from 2017 to 2024.

What is the land classification for Ram Nagar?

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

What is the registration office for Ram Nagar?

The registration office that covers Ram Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property in Ram Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300.