Guideline Value for Ram Nagar

Ram Nagar guideline value

The current guideline value of Ram Nagar, located in Puzhal village under the Redhills SRO, is Rs 1,102 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Class III Type - I.

How the guideline value of Ram Nagar has changed

The guideline value for Ram Nagar has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, this was followed by a decrease to Rs 469 per sq.ft in 2017. The value then saw a substantial rise to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,102 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 451%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

In Puzhal village, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 1,102 per sq.ft, which is equal to the guideline value of Ram Nagar.

• Ramakrishna Nagar: Rs 1,102 per sq.ft (2024)
• Rajesh Avenue: Rs 1,102 per sq.ft (2024)
• Raghavendra Nagar Part-II: Rs 1,650 per sq.ft (2024)
• Sakthivel 3rd Street: Rs 1,100 per sq.ft (2024)
• Sakthivel Nagar: Rs 1,100 per sq.ft (2024)
• Ragavendra Nagar Part - 1: Rs 1,650 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 1,102 per sq.ft, the total guideline value would be Rs 11,02,000. The stamp duty at 7% would be Rs 77,140, and the registration fee at 2% would be Rs 22,040, totaling Rs 99,180. 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 details.

Which Sub Registrar Office covers Ram Nagar?

The Sub Registrar Office that covers Ram Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is used as a reference point for property transactions in Puzhal. When buying or selling property, the guideline value helps determine the stamp duty and registration fees that need to be paid to the government.

It is essential to note that the guideline value may differ from the actual sale price. The authorities will charge stamp duty based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ram Nagar?

The current guideline value of Ram Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,102 per sq.ft in 2024, reflecting a total increase of 451% over the years.

What is the significance of the guideline value?

The guideline value serves as a basis for calculating stamp duty and registration fees during property transactions. It helps ensure that the government collects appropriate revenue from sales.

Where can I find the Sub Registrar Office for Ram Nagar?

The Sub Registrar Office for Ram Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.