Guideline Value for SRI RAM NAGAR (VAL)

Sri Ram Nagar (Val) guideline value

The current guideline value of Sri Ram Nagar (Val) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Potheri village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

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

The guideline value for Sri Ram Nagar (Val) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 800 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 800 per sq.ft in the 2023 revision, followed by a further increase to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, making the current value of Sri Ram Nagar (Val) above this median.

• Sripuram (Val): Rs 880 per sq.ft (2024)
• Srm Nagar (Ward-20): Rs 1,320 per sq.ft (2024)
• Sri Kamatchi Nagar Extension (Tai): Rs 1,100 per sq.ft (2024)
• Sri Kamatchi Amman Nagar (Tai): Rs 1,100 per sq.ft (2024)
• Sundaram Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Tagore Phase - 1,2 (Tai): Rs 880 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ram Nagar (Val)?

The Chengleput Joint II Sub Registrar Office covers Sri Ram Nagar (Val). The office is 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 Potheri

The guideline value is a crucial factor in the registration process of property transactions in Potheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential to consider this value when negotiating the sale price, as the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Sri Ram Nagar (Val) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

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

Sri Ram Nagar (Val) is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Sri Ram Nagar (Val)?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Where is the Chengleput Joint II Sub Registrar Office located?

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