Guideline Value for SRI RAM NAGAR

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Pakkam village under the Madurandakam Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Sri Ram Nagar has changed

Over the years, the guideline value of Sri Ram Nagar has seen several revisions. The most recent revisions show that in 2024, the value is Rs 300 per sq.ft, which is the same as the 2023 revision. The 2017 revision recorded a lower value of Rs 201 per sq.ft, marking a significant increase of 49% from 2017 to 2023. In contrast, the 2012 revision also set the value at Rs 300 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 300 per sq.ft.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Therefore, the earliest available revision is from 2012, which was Rs 300 per sq.ft.

Guideline values in Pakkam

In Pakkam village, there are 13 streets under the Madurandakam SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 350 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the guideline value of Sri Ram Nagar.

• S.R.G.D. Nagar: Rs 300 per sq.ft (2024)
• Vignesh Nagar: Rs 200 per sq.ft (2024)
• Vignesh Nagar Extension: Rs 200 per sq.ft (2024)
• Kowsalya Garden: Rs 350 per sq.ft (2024)
• J J Nagar: Rs 200 per sq.ft (2024)
• Esic Employes Union Golden Juble Nagar: Rs 300 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 guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, resulting in Rs 21,000, and the registration fee is charged at 2%, amounting to Rs 6,000. Together, the total cost for stamp duty and registration fees would be Rs 27,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Sri Ram Nagar?

Sri Ram Nagar falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Pakkam. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal recognition of the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs involved in property registration. Ensuring that the transaction is based on the correct guideline value helps in avoiding any legal complications in the future.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Sri Ram Nagar has remained at Rs 300 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot at Rs 300 per sq.ft, the total fees amount to Rs 27,000.

Which Sub Registrar Office is responsible for Sri Ram Nagar?

The Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone, covers Sri Ram Nagar.

What is the land classification of Sri Ram Nagar?

Sri Ram Nagar is classified as Mixed Type - I land, which indicates its suitability for various types of developments.