Guideline Value

Corporate

Guideline Value for SRI RAM NAGAR

₹2200/sq.ft.

The guideline value for Sri Ram Nagar in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹216 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹196 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Nerkundram village under the Virugambakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV 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. Starting from Rs 196 per sq.ft in 2002, the value increased to Rs 216 per sq.ft in 2003. By 2007, it rose significantly to Rs 350 per sq.ft, and then jumped to Rs 2,000 per sq.ft in 2012. However, there was a decline to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023 before reaching the current rate of Rs 2,200 per sq.ft in 2024.

Between these revisions, the most notable changes include a 471% increase from 2007 to 2012, and a 49% increase from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has risen by 1022%. There are no figures available for the years that do not have a registered value for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Sri Ram Nagar. Below are other streets in Nerkundram:

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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue from stamp duties. It is essential for both buyers and sellers to understand this value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 196 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1022% over this period.

What are the stamp duty rates for property in Sri Ram Nagar?

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

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions in the area.