Guideline Value for SRI RAM NAGAR

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This area is located in Perumbakkam village, under the Madurandakam Sub Registrar Office (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 of Sri Ram Nagar has undergone several revisions over the years. The earliest recorded figure available is from 2012, where the value was Rs 100 per sq.ft. This was followed by a decrease to Rs 67 per sq.ft in 2017, a change of -33%. In 2023, the value increased back to Rs 100 per sq.ft, and in the latest revision for 2024, it rose to Rs 103 per sq.ft, marking a 3% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 3%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are five streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 100 per sq.ft, placing Sri Ram Nagar above that median with its current value of Rs 103 per sq.ft.

• Sri Sai Prithivi Nagar: Rs 100 per sq.ft (2024)
• Sri Venkatesh Nagar: Rs 100 per sq.ft (2024)
• Periyar Nagar: Rs 100 per sq.ft (2024)
• Sri Nagar: Rs 400 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 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total to Rs 9,270. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ram Nagar?

The Sub Registrar Office that covers Sri Ram Nagar is 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 Perumbakkam

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market standards. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Sri Ram Nagar?

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

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

For a property valued at Rs 1,03,000, the stamp duty would be Rs 7,210 and the registration fee would be Rs 2,060, totaling Rs 9,270.

Where is the Sub Registrar Office for Sri Ram Nagar located?

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