Guideline Value for Sri Ram Nagar Main Road

Sri Ram Nagar Main Road guideline value

The current guideline value of Sri Ram Nagar Main Road, located in Peerklankaranai village, is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Sri Ram Nagar Main Road has changed

The guideline value for Sri Ram Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft. The 2023 revision increased the value to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Looking at the changes, from 2017 to 2023, the value increased by 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, the guideline value from 2012 to 2024 shows a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sri Ram Nagar Main Road.

• Sriram Nagar 8th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 7th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 6th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 3rd Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ram Nagar Main Road?

The Sri Ram Nagar Main Road falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the property registration process in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher value between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar Main Road?

The current guideline value of Sri Ram Nagar Main Road is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Sri Ram Nagar Main Road?

Sri Ram Nagar Main Road is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers this area?

The Tambaram Joint 1 Sub Registrar Office covers Sri Ram Nagar Main Road, located at No.26, Mes Road, East Tambaram, Chennai-600059.