Guideline Value for SRI RAM NAGAR EXTN -I

Sri Ram Nagar Extn -I guideline value

The current guideline value for Sri Ram Nagar Extn -I in Karunilam village is Rs 500 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

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

The guideline value for Sri Ram Nagar Extn -I has experienced several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the 2017 revision, where it was adjusted to Rs 335 per sq.ft, marking a decrease of 33%. However, the value significantly increased by 49% in the 2023 revision, bringing it back to Rs 500 per sq.ft, a figure that remained constant in the 2024 revision, indicating no change 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 2012 to 2024, the guideline value has seen no net change, remaining at Rs 500 per sq.ft.

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, with the median value being Rs 501 per sq.ft. The guideline value for Sri Ram Nagar Extn -I is below this median.

• Sri Ram Nagar Extn -II: 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 -I

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 is calculated at 7%, resulting in Rs 35,000, while the registration fee is 2%, amounting to Rs 10,000. Therefore, the total cost for stamp duty and registration fee together is Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

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

The Sri Ram Nagar Extn -I falls under the jurisdiction of the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. 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 an essential factor in the registration process when buying or selling property in Karunilam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is crucial for both buyers and sellers, as it affects the overall cost of property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings to ensure compliance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value for Sri Ram Nagar Extn -I is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2012 to 2024, with a notable increase of 49% from 2017 to 2023. The value was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in Sri Ram Nagar Extn -I?

The stamp duty for a property valued at Rs 5,00,000 is Rs 35,000, and the registration fee is Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Chengleput Joint II Sub Registrar Office covers Sri Ram Nagar Extn -I, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Sri Ram Nagar Extn -I?

Sri Ram Nagar Extn -I is classified as Residential Class I Type - I, indicating its suitability for residential development.