Guideline Value for SRI RAM NAGAR

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Thenmalpakkam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Sri Ram Nagar has changed

The guideline value for Sri Ram Nagar has undergone several revisions over the years. The earliest available revision is from 2007, where the guideline value was Rs 120 per sq.ft. This increased significantly to Rs 500 per sq.ft in the 2012 revision, marking a 317% increase. However, between 2012 and 2017, there was a decrease to Rs 335 per sq.ft, a drop of 33%. The value then rose again to Rs 500 per sq.ft in 2023, maintaining the same rate in the 2024 revision, resulting in a 49% increase from the 2017 figure.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 317%.

Guideline values in Thenmalpakkam

Thenmalpakkam village has eight streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Sri Ram Nagar's 2024 figure below that median.

• Sri Sathiya Sai Nagar: Rs 550 per sq.ft (2024)
• Sree Sainagar: Rs 350 per sq.ft (2024)
• Sendhur Murugan Avenue: Rs 300 per sq.ft (2024)
• Vishwa Garden Phase-I: Rs 600 per sq.ft (2024)
• Grace Garden: Rs 550 per sq.ft (2024)
• A.V.R.Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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?

The Sub Registrar Office covering Sri Ram Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is assessed to ensure that the fees are calculated accurately. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 120 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of Sri Ram Nagar?

Sri Ram Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Ram Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at a rate of 7%.