Guideline Value for Sri Ram Nagar Annex - 1

Sri Ram Nagar Annex - 1 guideline value

The current guideline value for Sri Ram Nagar Annex - 1 is Rs 440 per sq.ft, effective from 1 July 2024. This property is located in Vilangadupakkam village under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Ram Nagar Annex - 1 has changed

Over the years, the guideline value for Sri Ram Nagar Annex - 1 has seen several revisions. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, in 2017, it dropped to Rs 268 per sq.ft, a decrease of 33%. The value then rose significantly to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft following a 10% increase in 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 reflects a 120% increase in the guideline value, highlighting the fluctuations over the years.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Sri Ram Nagar Annex - 1 aligns with this median.

• Sri Ram Nagar: Rs 440 per sq.ft (2024)
• Sri Roja Garden: Rs 440 per sq.ft (2024)
• Sri Sai Balaji Nagar: Rs 440 per sq.ft (2024)
• Sri Sai Krishna Nagar: Rs 440 per sq.ft (2024)
• Sri Pathi Nagar: Rs 440 per sq.ft (2024)
• Sri Parthasarathy Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar Annex - 1

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ram Nagar Annex - 1?

The Sub Registrar Office that covers Sri Ram Nagar Annex - 1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Vilangadupakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are required to be paid to the government.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sri Ram Nagar Annex - 1?

The current guideline value for Sri Ram Nagar Annex - 1 is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting a 120% increase overall.

What are the stamp duty and registration fees for a property in Sri Ram Nagar Annex - 1?

For a 1,000 sq.ft property, the total guideline value is Rs 4,40,000, with stamp duty at Rs 30,800 and registration fees at Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers this area?

The Redhills Sub Registrar Office covers Sri Ram Nagar Annex - 1, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Sri Ram Nagar Annex - 1?

Sri Ram Nagar Annex - 1 is classified as Residential Class III Type - I, indicating its use for residential purposes.