Guideline Value for SRI RAMAN NAGAR

Sri Raman Nagar guideline value

The current guideline value of Sri Raman Nagar, located in Naalur village under the Ponneri SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Raman Nagar has changed

The guideline value for Sri Raman Nagar has seen several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 300 per sq.ft. This figure changed to Rs 268 per sq.ft in 2017, which was a decrease of 11%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 400 per sq.ft, a figure that remained unchanged through the 2024 revision.

From 2012 to 2024, the overall increase in the guideline value is 33%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Naalur

In Naalur village, there are 23 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 600 per sq.ft, with the median value being Rs 400 per sq.ft. Sri Raman Nagar's current guideline value aligns with this median.

• Srinivasapuram Phase Iiii: Rs 400 per sq.ft (2024)
• Sri Sai Nagar: Rs 400 per sq.ft (2024)
• Sri Vaidheeswarar Nagar: Rs 400 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 400 per sq.ft (2024)
• Sandhya Nagar: Rs 500 per sq.ft (2024)
• Vadivudai Amman Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Raman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty, charged at 7%, would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Raman Nagar?

Sri Raman Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Naalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Sri Raman Nagar?

The current guideline value of Sri Raman 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 changed from Rs 300 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023 and remained the same in 2024.

What are the other streets in Naalur with similar guideline values?

Other streets in Naalur with a 2024 guideline value of Rs 400 per sq.ft include Srinivasapuram Phase Iiii, Sri Sai Nagar, Sri Vaidheeswarar Nagar, and Sri Jayalakshmi Nagar.

What is the registration fee for property in Sri Raman Nagar?

The registration fee for property in Sri Raman Nagar is calculated based on the guideline value. For example, a 1,000 sq.ft plot would incur a registration fee of Rs 8,000 at the current guideline value.

Where can I find the Sub Registrar Office for Sri Raman Nagar?

The Sub Registrar Office covering Sri Raman Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.