Guideline Value for Ram nagar 2nd Main Road

Ram nagar 2nd Main Road guideline value

The current guideline value of Ram nagar 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Ram nagar 2nd Main Road has changed

The guideline value of Ram nagar 2nd Main Road has seen significant changes over the years. In 2002, the value was Rs 551 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a 27% rise. The value continued to rise, reaching Rs 1,250 per sq.ft in 2007, a substantial increase of 79%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a 140% increase from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 3,000 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. There are no figures available for any other years for this street in the register.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, indicating that the guideline value of Ram nagar 2nd Main Road is below this median.

• Ram Nagar 2nd Street/ 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Ram Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Ram Nagar 4thcross Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ram nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram nagar 2nd Main Road?

The Sub Registrar Office that covers Ram nagar 2nd Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is a reference point for the government to calculate these fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Ram nagar 2nd Main Road?

The current guideline value of Ram nagar 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 551 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 499% over the years.

What is the stamp duty for property in Ram nagar 2nd Main Road?

The stamp duty for property in Ram nagar 2nd Main Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ram nagar 2nd Main Road located?

The Sub Registrar Office for Ram nagar 2nd Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, with Ram nagar 2nd Main Road's value being below this median at Rs 3,300 per sq.ft.