Guideline Value for SRI GURU RAJA NAGAR

Sri Guru Raja Nagar guideline value

The current guideline value of Sri Guru Raja Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Eraiyamangalam village, under the Perambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Guru Raja Nagar has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. Following this, the 2023 revision brought the value back up to Rs 200 per sq.ft, and it remained the same in the 2024 revision, with no percentage change. The register has no figures for the revisions in 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained at Rs 200 per sq.ft, showing no overall change despite the fluctuations in earlier years.

Guideline values in Eraiyamangalam

In Eraiyamangalam, there are five streets under the Perambakkam SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 300 per sq.ft, with the median being Rs 200 per sq.ft. Sri Guru Raja Nagar's 2024 figure aligns with this median.

• Vingneswara Nagar: Rs 150 per sq.ft (2024)
• Jayaraj Garden: Rs 200 per sq.ft (2024)
• Dheshwa Nagar: Rs 300 per sq.ft (2024)
• Sri Purnaprajna Nagar: Rs 240 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Guru Raja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Guru Raja Nagar?

The Sub Registrar Office that covers Sri Guru Raja Nagar is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Eraiyamangalam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency and consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Sri Guru Raja Nagar?

The current guideline value of Sri Guru Raja Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft. The value was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sri Guru Raja Nagar?

The Perambakkam Sub Registrar Office covers Sri Guru Raja Nagar. It is located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.

What is the land classification of Sri Guru Raja Nagar?

Sri Guru Raja Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes within the area.