Guideline Value for SRI RAM NAGAR EXTN -II

Sri Ram Nagar Extn -II guideline value

The current guideline value for Sri Ram Nagar Extn -II is Rs 500 per sq.ft. This area is located in Karunilam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Ram Nagar Extn -II has changed

Looking at the historical guideline values, the 2012 revision set the value at Rs 500 per sq.ft. This was followed by a decrease in the 2017 revision, which recorded a value of Rs 335 per sq.ft, marking a decline of 33%. However, the value rebounded to Rs 500 per sq.ft in the 2023 revision, and it remained unchanged in the 2024 revision, resulting in an overall increase of 0% from 2012 to 2024.

From 2017 to 2023, the guideline value increased by 49%. The 2024 revision maintains the same value as the previous year, showing no change from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karunilam

In Karunilam, there are 35 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 1,200 per sq.ft. The median value for these streets is Rs 501 per sq.ft, which means that the guideline value for Sri Ram Nagar Extn -II is below that median.

• Sri Ram Nagar Extn -I: Rs 500 per sq.ft (2024)
• Sri Ram Nagar: Rs 500 per sq.ft (2024)
• Sri Sathiya Sai Nagar Phase- 4: Rs 600 per sq.ft (2024)
• Sri Kalaivani Avenue Extn: Rs 500 per sq.ft (2024)
• Sri Kalaivani Avenue: Rs 500 per sq.ft (2024)
• S.M.S. Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar Extn -II

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total fees Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Ram Nagar Extn -II?

The Sri Ram Nagar Extn -II 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karunilam. It serves as the benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the higher of the guideline value or the sale price is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value for Sri Ram Nagar Extn -II?

The current guideline value for Sri Ram Nagar Extn -II is Rs 500 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant increase of 49% occurring between the 2017 and 2023 revisions. The value has remained at Rs 500 per sq.ft since the 2012 revision, with no change from 2023 to 2024.

What is the median guideline value for streets in Karunilam?

The median guideline value for the 35 streets in Karunilam under the Chengleput Joint II SRO is Rs 501 per sq.ft. The guideline value for Sri Ram Nagar Extn -II is below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

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. This office handles the registration of properties in the area.