Guideline Value for SRI RAM NAGAR

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Vichoor_B village under the Thiruvottiyur SRO, is Rs 485 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Ram Nagar has changed

The guideline value for Sri Ram Nagar has seen several revisions over the years. In 2017, the value was Rs 295 per sq.ft. This increased significantly to Rs 441 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 set the value at Rs 485 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value for these streets is Rs 485 per sq.ft, which is the same as the guideline value for Sri Ram Nagar.

• Sri Ram Ganapathi Nagar: Rs 485 per sq.ft (2024)
• Sri Ramnagar Extn: Rs 485 per sq.ft (2024)
• Srinivasa Nagar: Rs 485 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 485 per sq.ft (2024)
• Sri Mahalashmi Nagar: Rs 485 per sq.ft (2024)
• St. Thomas Nagar: Rs 485 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 485 per sq.ft, the total guideline value would be Rs 4,85,000. The stamp duty at 7% would amount to Rs 33,950, and the registration fee at 2% would be Rs 9,700, bringing the total fees to Rs 43,650. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ram Nagar?

Sri Ram Nagar falls under the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further information.

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

The guideline value is a crucial factor during the registration of property transactions in Vichoor_B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps in calculating the necessary fees and ensures compliance with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies 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 485 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 295 per sq.ft to Rs 485 per sq.ft in 2024, marking an overall increase of 64%.

What were the guideline values in previous revisions?

The guideline values for Sri Ram Nagar were Rs 295 per sq.ft in 2017, Rs 441 per sq.ft in 2023, and Rs 485 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

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

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

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.