Guideline Value for SRI RAMALU NAGAR

Sri Ramalu Nagar guideline value

The current guideline value of Sri Ramalu Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Sri Ramalu Nagar has changed

The guideline value of Sri Ramalu Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 69 per sq.ft, which increased significantly to Rs 375 per sq.ft in 2007, marking a change of +443%. The value remained at Rs 1,500 per sq.ft from 2012 until the 2023 revision, indicating no change during that period. In 2023, the guideline value was revised to Rs 1,500 per sq.ft, and then increased to Rs 1,600 per sq.ft in 2024, reflecting a change of +7%.

It is important to note that the register has no figures for the years 2003 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by +2219%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Sri Ramalu Nagar's 2024 figure below that median.

• Sri Ragavendra Nagar Extension: Rs 2,100 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 2,100 per sq.ft (2024)
• SRINIVASAPURAM 3rd MAIN ROAD: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 2nd STREET: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 2nd MAIN ROAD: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramalu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ramalu Nagar?

The Sub Registrar Office that covers Sri Ramalu Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with local regulations.

When a property is sold, the guideline value is used to calculate the applicable charges, and the higher of the guideline value or the sale price is taken into account. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Ramalu Nagar?

The current guideline value of Sri Ramalu Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 69 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of +2219% over the years.

What is the registration office for Sri Ramalu Nagar?

The registration office for Sri Ramalu Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Are there any other streets with guideline values in Korattur?

Yes, there are several other streets in Korattur with different guideline values. For example, Sri Ragavendra Nagar and Sri Ragavendra Nagar Extension both have a guideline value of Rs 2,100 per sq.ft in 2024.

How is stamp duty calculated for properties in Sri Ramalu Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.