Guideline Value for SRI RAM NAGAR SALAI

Sri Ram Nagar Salai guideline value

The current guideline value of Sri Ram Nagar Salai is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Ram Nagar Salai has changed

The guideline value for Sri Ram Nagar Salai has seen several revisions over the years. The 2012 revision set the value at Rs 9,000 per sq.ft, which then decreased to Rs 6,030 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 9,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 9,900 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, which is equal to the current guideline value for Sri Ram Nagar Salai.

• Sriram Nagar Ist Street: Rs 9,900 per sq.ft (2024)
• Sriram Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Srinivasapuram Main Road: Rs 9,900 per sq.ft (2024)
• Srinivasapuram 3rd Street: Rs 9,900 per sq.ft (2024)
• Srinivasapuram 2nd Street: Rs 9,900 per sq.ft (2024)
• Srinivasapuram 1st Street: Rs 9,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost to Rs 8,91,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ram Nagar Salai?

The Sub Registrar Office that covers Sri Ram Nagar Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the buyer must pay the applicable stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Sri Ram Nagar Salai is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then increased to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the stamp duty rate for properties in Sri Ram Nagar Salai?

The stamp duty rate for properties in Sri Ram Nagar Salai is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Ram Nagar Salai?

The Sub Registrar Office for Sri Ram Nagar Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Sri Ram Nagar Salai?

Sri Ram Nagar Salai is classified as Residential Class I Type - I under the Chennai South Joint I SRO.