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 area is located in Vallancheri 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

Over the years, the guideline value for Sri Ram Nagar (Val) has seen several revisions. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase from Rs 800 per sq.ft in 2023, marking a 10% rise. Prior to that, the 2017 revision recorded the value at Rs 536 per sq.ft, which was a significant increase of 49% from the previous 2012 revision where it was Rs 800 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, but overall, from 2012 to 2024, there has been a modest increase of 10%. This reflects the fluctuations in the guideline value over the years, with the current rate being the highest recorded for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Sri Ram Nagar (Val) above this median.

• Sri Sai Avenue -III: Rs 660 per sq.ft (2024)
• 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 880 per sq.ft (2024)
• Sri Kamatchi Amman Nagar (Tai): Rs 880 per sq.ft (2024)
• Sundaram Nagar (Ward -1): Rs 660 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, while the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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 (Val)?

Sri Ram Nagar (Val) falls under 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 Vallancheri

The guideline value plays a crucial role during property transactions in Vallancheri. It is used to determine the stamp duty and registration fees required when buying or selling a property. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any potential legal issues.

When a property is registered, the guideline value is considered to establish the official value of the property. This value is essential for calculating the applicable fees and taxes, ensuring that both parties in the transaction are aware of their financial obligations.

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 2023 to Rs 880 per sq.ft in 2024, a 10% increase. It was Rs 536 per sq.ft in 2017, which was a 49% increase from the previous 2012 figure of Rs 800 per sq.ft.

What is the median guideline value in Vallancheri?

The median guideline value for streets in Vallancheri is Rs 825 per sq.ft, with Sri Ram Nagar (Val) currently above this median at Rs 880 per sq.ft.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Sri Ram Nagar (Val)?

The Chengleput Joint II Sub Registrar Office handles registrations for Sri Ram Nagar (Val), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.