Guideline Value for SRIRADI SAI RAM NAGAR

Sriradi Sai Ram Nagar guideline value

The current guideline value of Sriradi Sai Ram Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This property is located in Mampattu village under the Madurandakam SRO, classified as Commercial Class I Type - I.

How the guideline value of Sriradi Sai Ram Nagar has changed

The guideline value for Sriradi Sai Ram Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. However, in the 2023 revision, the value returned to Rs 250 per sq.ft, maintaining this figure in the 2024 revision as well, resulting in a 50% increase from 2017 to 2023.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 250 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mampattu

In addition to Sriradi Sai Ram Nagar, other streets in Mampattu under the Madurandakam SRO have their own guideline values. The following are the guideline values for these streets:

• Maharaja Promoters: Rs 251 per sq.ft (2024)

Stamp duty and registration fee for property in Sriradi Sai Ram Nagar

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sriradi Sai Ram Nagar?

The Sub Registrar Office that covers Sriradi Sai Ram Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mampattu. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established guideline value or the sale price, whichever is higher.

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 factor in these costs when budgeting for their property purchase to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Sriradi Sai Ram Nagar?

The current guideline value of Sriradi Sai Ram Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since the 2012 revision, saw a drop to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in 2023. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

What is the stamp duty rate for properties in Sriradi Sai Ram Nagar?

The stamp duty rate for properties in Sriradi Sai Ram Nagar is 7% of the guideline value or sale price, whichever is higher.

What are the registration fees for property transactions?

The registration fee for property transactions in Sriradi Sai Ram Nagar is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sriradi Sai Ram Nagar?

The Sub Registrar Office for Sriradi Sai Ram Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.