Guideline Value for Sri Ram Colony

Sri Ram Colony guideline value

The current guideline value of Sri Ram Colony in Thalakanancherry village is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of Sri Ram Colony has changed

The guideline value for Sri Ram Colony has seen several revisions over the years. In 2007, the value was Rs 1,700 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this value dropped to Rs 2,680 per sq.ft in 2017, before rising to Rs 4,000 per sq.ft again in 2023. The latest revision in 2024 set the value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 159%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value range from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Sri Ram Colony's 2024 figure above this median.

• Sri Venkateshwara Avenue: Rs 4,400 per sq.ft (2024)
• Sri Lakshmi Street: Rs 4,400 per sq.ft (2024)
• Sri Vidhya Nagar (MMTC Colony): Rs 4,400 per sq.ft (2024)
• State Bank Colony 12th Cross Street: Rs 4,400 per sq.ft (2024)
• State Bank Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• State Bank Colony 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ram Colony?

The Sub Registrar Office that covers Sri Ram Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thalakanancherry. It determines the minimum value at which the property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers and sellers should be aware of this value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Ram Colony?

The current guideline value of Sri Ram Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 159% over this period.

What is the land classification of Sri Ram Colony?

Sri Ram Colony is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Sri Ram Colony?

The Sub Registrar Office for Sri Ram Colony is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions in Sri Ram Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.