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 Ninna Karai 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, representing a decrease of 33%. In 2023, the value increased to Rs 600 per sq.ft, and in the latest 2024 revision, it rose by 10% to Rs 660 per sq.ft.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that have a guideline value for 2024, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Sri Ram Nagar (Kr) below that 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 Vignesh Nagar: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar: Rs 990 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, bringing the total charges to Rs 59,400. 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 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that all parties are aware of the financial obligations involved.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 back 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.

What are the other streets in Ninna Karai with their guideline values?

Other streets in Ninna Karai include Sri Sakthi Nagar (Ward -15) and Srinivasa Nagar (Kr) both at Rs 660 per sq.ft, Sri Maruthi Nagar (Sa) at Rs 440 per sq.ft, and Sri Krishna Nagar at Rs 990 per sq.ft.

Where can I find the Sub Registrar Office for Sri Ram Nagar (Kr)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the appropriate link.