Guideline Value for Ram Prasath Nagar

Ram Prasath Nagar guideline value

The current guideline value of Ram Prasath Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This locality is situated in Panapakkam village under the Padappai SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Ram Prasath Nagar has changed

The guideline value for Ram Prasath Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017. In 2023, the value increased to Rs 700 per sq.ft, and the latest revision in 2024 set the value at Rs 770 per sq.ft, marking an increase of 10% from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, there has been a total increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Panapakkam

In Panapakkam village, there are 28 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 990 per sq.ft, with the median value being Rs 770 per sq.ft. Ram Prasath Nagar's 2024 figure aligns with this median.

• Sindhu Enclave: Rs 990 per sq.ft (2024)
• Pallavan Nagar: Rs 770 per sq.ft (2024)
• Sri Krishna Nagar: Rs 550 per sq.ft (2024)
• Oragadam Villa: Rs 770 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 770 per sq.ft (2024)
• Srinivasa Perumal Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ram Prasath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ram Prasath Nagar?

The Sub Registrar Office that covers Ram Prasath Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Panapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property being bought or sold.

When a property is registered, the higher value between the guideline value and the sale price is taken into account for calculating the applicable duties and fees. This ensures that the transaction is processed in accordance with the regulatory requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ram Prasath Nagar?

The current guideline value of Ram Prasath Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Ram Prasath Nagar?

Ram Prasath Nagar falls under the Residential Class I Type - I land classification.

Where can I find the registration office for Ram Prasath Nagar?

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

How is stamp duty calculated in Ram Prasath Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the total guideline value is Rs 7,70,000, leading to a stamp duty of Rs 53,900.