Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Mudichur village under the Padappai SRO, is Rs 1,210 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Ram Nagar has changed

Over the years, the guideline value of Ram Nagar has seen several revisions. The 2012 revision set the value at Rs 1,100 per sq.ft, which later decreased to Rs 737 per sq.ft in the 2017 revision. The subsequent 2023 revision increased the value to Rs 1,100 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,210 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, there has been an overall increase of 10%. The change from 2017 to 2023 saw a significant increase of 49%, while the adjustment from 2012 to 2017 reflected a decrease of 33%. The latest increase from 2023 to 2024 is 10%.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO, with guideline values for 2024 ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Ram Nagar's 2024 guideline value is below this median.

• Ramar Thottam: Rs 1,210 per sq.ft (2024)
• Ramanujam Street: Rs 1,210 per sq.ft (2024)
• Ranga Nagar: Rs 2,200 per sq.ft (2024)
• Rajarajan Street: Rs 3,630 per sq.ft (2024)
• Sakthi Nagar: Rs 1,760 per sq.ft (2024)
• Saranga Avenue: Rs 3,630 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 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty, charged at 7%, amounts to Rs 84,700, while the registration fee at 2% is Rs 24,200. Together, the total cost for these fees would be Rs 1,08,900. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial reference point when buying or selling property in Mudichur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When a property is registered, the guideline value or the sale price is taken into account, depending on which is higher. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the median guideline value in Mudichur?

The median guideline value for the 135 streets in Mudichur is Rs 2,200 per sq.ft, with Ram Nagar's value being below this median.

What fees are associated with property registration in Ram Nagar?

For a property in Ram Nagar, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. Together, these fees can amount to a significant cost during the registration process.

Where is the Sub Registrar Office for Ram Nagar located?

The Sub Registrar Office for Ram Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.