Guideline Value for Sri Ram Nagar Extn

Sri Ram Nagar Extn guideline value

The current guideline value of Sri Ram Nagar Extn is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Pazhanthandalam village, under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - I.

How the guideline value of Sri Ram Nagar Extn has changed

Over the years, the guideline value for Sri Ram Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,100 per sq.ft, a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pazhanthandalam

In Pazhanthandalam, there are 57 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which matches the current guideline value for Sri Ram Nagar Extn.

• Sri Ram Nagar: Rs 1,100 per sq.ft (2024)
• Sri Sai City Phase-IV: Rs 1,980 per sq.ft (2024)
• Sri Raghavendra Nagar Extension III: Rs 1,100 per sq.ft (2024)
• Sri Raghavendra Nagar Extension I: Rs 770 per sq.ft (2024)
• Sri Raghavendra Nagar: Rs 1,100 per sq.ft (2024)
• Sri Sathya Nagar: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Extn?

The Sri Ram Nagar Extn falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Pazhanthandalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for completing the registration process. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Sri Ram Nagar Extn?

The current guideline value for Sri Ram Nagar Extn is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the stamp duty for properties in Sri Ram Nagar Extn?

The stamp duty for properties in Sri Ram Nagar Extn is 7% of the guideline value or the sale price, whichever is higher.

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

The Padappai Sub Registrar Office covers Sri Ram Nagar Extn and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Sri Ram Nagar Extn?

The land classification for Sri Ram Nagar Extn is Residential Special Type - I, indicating its designated use for residential purposes.