Guideline Value for Rams Colony Old Door No.11, New Door No.21

Rams Colony Old Door No.11, New Door No.21 guideline value

The current guideline value for Rams Colony Old Door No.11, New Door No.21 is Rs 7,000 per sq.ft, effective from 1 July 2024. This property is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Special Type - III.

How the guideline value of Rams Colony Old Door No.11, New Door No.21 has changed

The guideline value for Rams Colony Old Door No.11, New Door No.21 has seen several revisions over the years. In 2007, the guideline value was Rs 2,110 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012, marking a change of 208%. This figure remained unchanged until the 2023 revision, where it was again Rs 6,500 per sq.ft. The most recent revision in 2024 raised the value to Rs 7,000 per sq.ft, reflecting an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 232%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Rams Colony Old Door No.11, New Door No.21 above this median.

• Rams Colony for others: Rs 6,600 per sq.ft (2024)
• Rani Annadurai Nagar: Rs 3,300 per sq.ft (2024)
• Rani Annadurai Street: Rs 3,300 per sq.ft (2024)
• Rani Anna Nagar: Rs 3,300 per sq.ft (2024)
• Rathan Das Street: Rs 4,900 per sq.ft (2024)
• Rathinam Street (JPT): Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rams Colony Old Door No.11, New Door No.21

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value would be Rs 70,00,000. The stamp duty at 7% would amount to Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total fees to Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Rams Colony Old Door No.11, New Door No.21?

The Sub Registrar Office that covers Rams Colony Old Door No.11, New Door No.21 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that both buyers and sellers comply with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's value in the current market.

Frequently asked questions

What is the current guideline value for Rams Colony Old Door No.11, New Door No.21?

The current guideline value for Rams Colony Old Door No.11, New Door No.21 is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,110 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, marking an overall increase of 232% over the years.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 6,30,000, which includes a stamp duty of Rs 4,90,000 and a registration fee of Rs 1,40,000.

Which Sub Registrar Office covers this area?

The Ashok Nagar Sub Registrar Office covers Rams Colony Old Door No.11, New Door No.21, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Rams Colony Old Door No.11, New Door No.21?

The land classification for Rams Colony Old Door No.11, New Door No.21 is Residential Special Type - III.