Guideline Value for Sri Ram Nagar Cross Street

Sri Ram Nagar Cross Street guideline value

The current guideline value of Sri Ram Nagar Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Ram Nagar Cross Street has changed

Over the years, the guideline value of Sri Ram Nagar Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 26%. However, from 2017 to 2023, the value increased by 49%. The jump from 2023 to 2024 accounts for a 10% increase. Overall, from 2012 to 2024, the guideline value has risen by 22%.

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Sri Ram Nagar Cross Street.

• Sri Ram Nagar Extension: Rs 2,200 per sq.ft (2024)
• Sri Ram Nagar: Rs 2,200 per sq.ft (2024)
• Sri Raman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sri Raman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sri Periyapalayathamman Nagar: Rs 2,200 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value is 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. 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 Sri Ram Nagar Cross Street?

The Sub Registrar Office that covers Sri Ram Nagar Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, visit find your SRO.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Selavoyal, the guideline value is used to calculate stamp duty and registration fees, ensuring that the transaction is officially documented.

It is important for buyers and sellers to be aware of the current guideline value, as it impacts the overall costs associated with property registration. This ensures compliance with legal requirements and helps in accurately assessing the financial implications of a property transaction.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar Cross Street?

The current guideline value of Sri Ram Nagar Cross Street 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 1,800 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sri Ram Nagar Cross Street?

Sri Ram Nagar Cross Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Sri Ram Nagar Cross Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 1,98,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.