Guideline Value for Sri Ram Nagar Ethiraj Street

Sri Ram Nagar Ethiraj Street guideline value

The current guideline value for Sri Ram Nagar Ethiraj Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

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

The guideline value for Sri Ram Nagar Ethiraj Street has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,680 per sq.ft. This increased to Rs 4,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 sees the guideline value set at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Sri Ram Nagar Ethiraj Street.

• Sriram Nagar Colony: Rs 3,850 per sq.ft (2024)
• Sriram Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Sri Ram Nagar Kandasamy Street: Rs 4,400 per sq.ft (2024)
• Sriram Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Sri Ram Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Sriram Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

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

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 the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Sri Ram Nagar Ethiraj Street?

The Sub Registrar Office that covers Sri Ram Nagar Ethiraj Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

During the registration process, the guideline value serves as a benchmark for calculating the necessary fees. It ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

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

The current guideline value of Sri Ram Nagar Ethiraj Street 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 increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, marking a total increase of 64% over the years.

What is the stamp duty for property in Sri Ram Nagar Ethiraj Street?

The stamp duty for property in Sri Ram Nagar Ethiraj Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 3,08,000.

Where is the Sub Registrar Office for Sri Ram Nagar Ethiraj Street located?

The Sub Registrar Office for Sri Ram Nagar Ethiraj Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Sri Ram Nagar Ethiraj Street?

Sri Ram Nagar Ethiraj Street is classified as Residential Class II Type - II according to the guideline value register.