Guideline Value for SRI RAM NAGAR

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Kannigaiper village under the Arani_Tiruvallur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Sri Ram Nagar has changed

The guideline value for Sri Ram Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 400 per sq.ft, the same as in 2023. Prior to that, in 2017, the guideline value was Rs 268 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and an overall increase of 49% from 2017 to 2024.

For the years 2002, 2003, 2007, and 2012, the register has no figure for this street. Thus, the only recorded revisions for Sri Ram Nagar are from 2017, 2023, and 2024.

Guideline values in Kannigaiper

In Kannigaiper village, six streets under the Arani_Tiruvallur SRO have a guideline value for 2024 ranging from Rs 400 to Rs 700 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Sri Ram Nagar is below this median.

• Thiru Avenue: Rs 550 per sq.ft (2024)
• Bhavani Amman Nagar: Rs 450 per sq.ft (2024)
• Chelliamman Avenue Phase 2: Rs 700 per sq.ft (2024)
• Kalaiarasi Garden: 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 guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. 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 more details.

Which Sub Registrar Office covers Sri Ram Nagar?

The Sub Registrar Office covering Sri Ram Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kannigaiper. It determines the stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, reflecting the official rates set by the Registration Department. Buyers and sellers should be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2024, marking an overall increase of 49%.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles property registration for Sri Ram Nagar?

The Arani_Tiruvallur Sub Registrar Office handles property registration for Sri Ram Nagar, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.

What is the land classification of Sri Ram Nagar?

Sri Ram Nagar is classified as Residential Class IV Type - I, indicating its designation for residential use.