Guideline Value for SRI RAMANUJAR NAGAR

Sri Ramanujar Nagar guideline value

The current guideline value of Sri Ramanujar Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Maiyur village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Sri Ramanujar Nagar has changed

In the 2012 revision, the guideline value was Rs 500 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. Following that, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, which was maintained in the 2024 revision, showing no change from the previous year. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 500 per sq.ft. The most notable change occurred between 2017 and 2023, where there was a 49% increase in the guideline value.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 700 per sq.ft. The median value is Rs 400 per sq.ft, placing Sri Ramanujar Nagar's 2024 figure above that median.

• Sri Vathsa Nagar Phase2: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phasei: Rs 500 per sq.ft (2024)
• Sri Hayagreevar Nagar: Rs 700 per sq.ft (2024)
• Trinty Avenue: Rs 500 per sq.ft (2024)
• Saroja Nagar: Rs 400 per sq.ft (2024)
• Ruby Garden Phase -II: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramanujar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ramanujar Nagar?

The Sub Registrar Office that covers Sri Ramanujar Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Maiyur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is documented at a fair value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are informed of the current guideline value to avoid unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Sri Ramanujar Nagar?

The current guideline value of Sri Ramanujar Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most notable being a decrease to Rs 335 per sq.ft in 2017, followed by an increase back to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Sri Ramanujar Nagar?

Sri Ramanujar Nagar is classified as Residential Special Type - I, which affects its guideline value and potential uses.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees would total Rs 45,000 based on the current guideline value.

Which office handles registrations for Sri Ramanujar Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Sri Ramanujar Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.