Guideline Value for Rams Colony for others

Rams Colony for others guideline value

The current guideline value for Rams Colony for others is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO with a land classification of Residential Class II Type - II.

How the guideline value of Rams Colony for others has changed

The guideline value for Rams Colony has undergone several revisions over the years. The earliest recorded revision was in 2007, setting the value at Rs 2,110 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 6,000 per sq.ft, marking a change of 184%. The most recent revision in 2024 raised the value further to Rs 6,600 per sq.ft, which represents a 10% increase from the 2012 figure.

Overall, from 2007 to 2024, the guideline value has increased by 213%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2017, and 2023 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 for others above this median.

• Rams Colony Old Door No.11, New Door No.21: Rs 7,000 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 for others

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rams Colony for others?

The Sub Registrar Office that covers Rams Colony for others is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these fees are calculated based on an official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Understanding these values can help in making informed decisions during the property buying or selling process.

Frequently asked questions

What is the current guideline value for Rams Colony for others?

The current guideline value for Rams Colony for others is Rs 6,600 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 6,600 per sq.ft in 2024, showing an overall increase of 213% over the years.

What is the land classification for Rams Colony for others?

Rams Colony for others is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Rams Colony for others?

The Ashok Nagar Sub Registrar Office covers Rams Colony for others, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 5,94,000.