Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Sundaracholavaram village under the Kunrathur SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, there was a decrease to Rs 402 per sq.ft in 2017. The value then rose to Rs 600 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 660 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Notably, the increase from 2007 to 2024 is a substantial 164%, reflecting the changes over the years.

Guideline values in Sundaracholavaram

Sundaracholavaram village has a total of 57 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft. The median value for these streets is Rs 660 per sq.ft, making Ram Nagar's current rate equal to this median.

• Sakthi Nagar: Rs 660 per sq.ft (2024)
• Sakthi Nagar Annuxe: Rs 660 per sq.ft (2024)
• Sakthi Nagar Extension: Rs 660 per sq.ft (2024)
• Sakthivel Nagar: Rs 660 per sq.ft (2024)
• Sakthivel Nagar Extension: Rs 660 per sq.ft (2024)
• Pumpset Street: Rs 550 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Nagar?

The Sub Registrar Office covering Ram Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Sundaracholavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the current guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

Which office handles property registrations in Ram Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Ram Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

Are there other streets with the same guideline value in Sundaracholavaram?

Yes, several other streets in Sundaracholavaram have the same guideline value of Rs 660 per sq.ft, including Sakthi Nagar, Sakthi Nagar Annuxe, and Sakthivel Nagar.