Guideline Value for Sri Ram Nagar Extension

Sri Ram Nagar Extension guideline value

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

How the guideline value of Sri Ram Nagar Extension has changed

The guideline value for Sri Ram Nagar Extension has seen significant changes over the years. In 2003, the guideline value was Rs 901 per sq.ft. This increased to Rs 2,800 per sq.ft in 2007, marking a substantial rise of 211%. The value then fluctuated, decreasing to Rs 4,000 per sq.ft in 2012, a drop of 33%. By 2017, it had risen again to Rs 2,680 per sq.ft, followed by a significant increase to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 388%. It is noteworthy that the register has no figure for the year 2002 for this street.

Guideline values in Pallipattu

Pallipattu village features 72 streets under the Adayar SRO, with guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft as of 2024. The median value for these streets is Rs 9,400 per sq.ft, placing Sri Ram Nagar Extension's 2024 figure below this median.

• Sri Ram Nagar: Rs 4,400 per sq.ft (2024)
• Teachers Colony: Rs 9,400 per sq.ft (2024)
• Thiruvengadam Street: Rs 7,700 per sq.ft (2024)
• Sardar Patel Road: Rs 15,400 per sq.ft (2024)
• Uthuman Road: Rs 3,300 per sq.ft (2024)
• Rukmani Nagar: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar Extension

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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ram Nagar Extension?

The Sri Ram Nagar Extension falls under the jurisdiction of the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pallipattu. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable charges. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar Extension?

The current guideline value of Sri Ram Nagar Extension 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 significantly, from Rs 901 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 388% over this period.

What is the land classification for Sri Ram Nagar Extension?

Sri Ram Nagar Extension is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Adayar Sub Registrar Office, which covers Sri Ram Nagar Extension, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Sri Ram Nagar Extension?

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