Guideline Value for SRI ERI RAMSAI NAGAR

Sri Eri Ramsai Nagar guideline value

The current guideline value of Sri Eri Ramsai Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village and falls under the Madurandakam SRO with a land classification of Commercial Class I Type - I.

How the guideline value of Sri Eri Ramsai Nagar has changed

The guideline value for Sri Eri Ramsai Nagar has undergone several revisions over the years. The earliest available 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 most recent revision in 2024 set the value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the guideline value saw significant changes. From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kadaperi

In Kadaperi, there are 24 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,100 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value of Sri Eri Ramsai Nagar is above this median.

• Sir Sairam Nagar: Rs 550 per sq.ft (2024)
• Sri Saibaba Nagar: Rs 1,100 per sq.ft (2024)
• Sri Sairam Nagar: Rs 550 per sq.ft (2024)
• Sri Sakthi Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Vishnu Nagar: Rs 550 per sq.ft (2024)
• Kadapperi Vivekanandhan Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Eri Ramsai 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 fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Eri Ramsai Nagar?

The Sub Registrar Office that covers Sri Eri Ramsai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Kadaperi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both buyers and sellers adhere to the legal requirements set by the registration authorities, thereby facilitating a smooth transaction process.

Frequently asked questions

What is the current guideline value of Sri Eri Ramsai Nagar?

The current guideline value of Sri Eri Ramsai 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 are the stamp duty rates for property in Sri Eri Ramsai Nagar?

The stamp duty for property transactions in Sri Eri Ramsai Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Eri Ramsai Nagar?

The Madurandakam Sub Registrar Office covers Sri Eri Ramsai Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the purpose of the guideline value in property transactions?

The guideline value serves as a minimum benchmark for property registration, helping to determine the stamp duty and registration fees required for transactions in Kadaperi.