Guideline Value for SRI RAM NAGAR EXTN

Sri Ram Nagar Extn guideline value

The current guideline value of Sri Ram Nagar Extn is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village, under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - II.

How the guideline value of Sri Ram Nagar Extn has changed

The guideline value for Sri Ram Nagar Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, and then further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the guideline value has changed as follows: from Rs 1,500 in 2012 to Rs 1,005 in 2017, a decrease of 33%. It then increased by 49% to Rs 1,500 in 2023 and further increased by 10% to Rs 1,650 in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Sri Ram Nagar Extn is equal to this median.

• Sriram Nagar: Rs 1,650 per sq.ft (2024)
• Sri Sakthi Nagar Extension: Rs 1,980 per sq.ft (2024)
• Sri Parameshwari Nagar: Rs 1,650 per sq.ft (2024)
• Sri Sarveswari Nagar: Rs 1,650 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 990 per sq.ft (2024)
• Sri Vimal Nagar: Rs 1,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Ram Nagar Extn?

The Sub Registrar Office covering Sri Ram Nagar Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar Extn?

The current guideline value of Sri Ram Nagar Extn is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 in 2012 to Rs 1,005 in 2017, then increased to Rs 1,500 in 2023, and finally to Rs 1,650 in 2024.

What is the land classification for Sri Ram Nagar Extn?

The land classification for Sri Ram Nagar Extn is Residential Special Type - II.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Sri Ram Nagar Extn?

The Padappai Sub Registrar Office handles registrations for Sri Ram Nagar Extn, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.