Guideline Value for Sri Ram Garden

Sri Ram Garden guideline value

The current guideline value of Sri Ram Garden, located in Naravarikuppam village, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification, managed by the Redhills SRO.

How the guideline value of Sri Ram Garden has changed

The guideline value for Sri Ram Garden has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this value decreased by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, followed by a 10% increase to the current Rs 2,200 per sq.ft in 2024.

From the 2017 revision to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects a substantial rise of 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Sri Ram Garden is above this median.

• Subramania Bharathiar Cross Street: Rs 1,870 per sq.ft (2024)
• Subramani Bharathiyar Street: Rs 1,870 per sq.ft (2024)
• Thanthai Periar Cross Street: Rs 1,650 per sq.ft (2024)
• Thanthai Periyar Street: Rs 1,320 per sq.ft (2024)
• Shankaralinganar Street: Rs 2,200 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ram Garden?

Sri Ram Garden falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Naravarikuppam. It serves as the minimum value for property transactions, ensuring that the sale price is not undervalued for registration purposes.

During the registration process, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Ram Garden?

The current guideline value of Sri Ram Garden is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Sri Ram Garden?

Sri Ram Garden is classified as Residential Special Type - I, which influences its guideline value and suitability for various types of development.

What are the stamp duty rates in Sri Ram Garden?

The stamp duty rate for property transactions in Sri Ram Garden is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Sri Ram Garden?

The Redhills Sub Registrar Office is responsible for handling registrations for properties in Sri Ram Garden, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.