Guideline Value for SRI RAM NAGAR (KR)

Sri Ram Nagar (Kr) guideline value

The current guideline value of Sri Ram Nagar (Kr) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Sri Ram Nagar (Kr) has changed

The guideline value for Sri Ram Nagar (Kr) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and the most recent revision in 2024 has raised it to Rs 660 per sq.ft, marking a 10% increase from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The change from 2017 to 2023 saw a significant rise of 49%, while the value dropped by 33% from 2012 to 2017.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, indicating that the guideline value of Sri Ram Nagar (Kr) is below this median.

• Sri Sakthi Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Srinivasa Nagar (Kr): Rs 660 per sq.ft (2024)
• Sri Maruthi Nagar (Sa): Rs 440 per sq.ft (2024)
• Sri Lakshmi Nagar (Sa): Rs 660 per sq.ft (2024)
• Sri Krishna 4th Street Korukanthangal (Ward -18): Rs 660 per sq.ft (2024)
• State Bank Colony: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that 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 Ram Nagar (Kr)?

The Sub Registrar Office that covers Sri Ram Nagar (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kattankollatur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees that need to be paid at the time of the transaction.

When a buyer and seller agree on a sale price, the guideline value is compared to ensure that the transaction is registered at the higher value. This ensures that the government receives the appropriate taxes based on the property's worth as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar (Kr)?

The current guideline value of Sri Ram Nagar (Kr) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Sri Ram Nagar (Kr)?

Sri Ram Nagar (Kr) is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Ram Nagar (Kr)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000, leading to a stamp duty of Rs 46,200.