Guideline Value for SRI Ramanar Nagar

SRI Ramanar Nagar guideline value

The current guideline value of SRI Ramanar Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,201 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of SRI Ramanar Nagar has changed

The guideline value for SRI Ramanar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in 2017. Subsequently, the 2023 revision brought it back to Rs 1,200 per sq.ft, and the latest 2024 revision has increased it slightly to Rs 1,201 per sq.ft, reflecting no percentage change from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been no change in the guideline value, remaining at Rs 1,200 per sq.ft. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, and SRI Ramanar Nagar's 2024 guideline value is above this median.

• Sri Ragavendra Nagar Extn-II to VIII: Rs 1,200 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 1,200 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,201 per sq.ft (2024)
• Srinivasa Nagar Extn: Rs 1,200 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,200 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in SRI Ramanar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,201 per sq.ft, the total guideline value would be Rs 12,01,000. The stamp duty at 7% would amount to Rs 84,070, and the registration fee at 2% would be Rs 24,020, making the total fees together Rs 1,08,090. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers SRI Ramanar Nagar?

The SRI Ramanar Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a reference point for determining the value of the property for the purpose of stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is a mandatory fee that must be paid during the registration of the property. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of SRI Ramanar Nagar?

The current guideline value of SRI Ramanar Nagar is Rs 1,201 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,201 per sq.ft in 2024.

What is the land classification of SRI Ramanar Nagar?

SRI Ramanar Nagar is classified as Residential Special Type - II.

What are the other streets in Madambakkam with their guideline values?

Other streets in Madambakkam include Sri Ragavendra Nagar Extn-II to VIII, Sri Ragavendra Nagar, Sri Ram Nagar, Srinivasa Nagar Extn, Sri Sai Nagar, and Srinivasa Nagar, all with guideline values ranging from Rs 1,200 to Rs 1,201 per sq.ft in 2024.

Where can I find the Sub Registrar Office for SRI Ramanar Nagar?

The Gooduvancheri Sub Registrar Office covers SRI Ramanar Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.