Guideline Value for Sri Ram Nagar Sakthi Garden Phase II

Sri Ram Nagar Sakthi Garden Phase II guideline value

The current guideline value of Sri Ram Nagar Sakthi Garden Phase II is Rs 2,900 per sq.ft, effective from 1 July 2024. This property is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Ram Nagar Sakthi Garden Phase II has changed

Since the 2012 revision, the guideline value for Sri Ram Nagar Sakthi Garden Phase II has seen several changes. In 2012, the value was Rs 2,700 per sq.ft, which decreased to Rs 1,809 per sq.ft in 2017, marking a significant decline of 33%. However, from 2017 to 2023, the value increased by 49% to Rs 2,700 per sq.ft. The latest revision in 2024 has set the value at Rs 2,900 per sq.ft, reflecting a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, placing Sri Ram Nagar Sakthi Garden Phase II above this median.

• Sri Ram Nagar Sakthi Garden Phase I: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Ext: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar 1 to 4th Street: Rs 2,900 per sq.ft (2024)
• Sri Ranganatha Nagar Extension: Rs 1,800 per sq.ft (2024)
• Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar: Rs 1,800 per sq.ft (2024)
• Sri Renganatha Nagar: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar Sakthi Garden Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. Please note that 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 further calculations.

Which Sub Registrar Office covers Sri Ram Nagar Sakthi Garden Phase II?

The Sub Registrar Office that covers Sri Ram Nagar Sakthi Garden Phase II is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue based on property valuations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are recorded at a fair value, reflecting the current market conditions as per the official register.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar Sakthi Garden Phase II?

The current guideline value of Sri Ram Nagar Sakthi Garden Phase II is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, marking a 7% increase. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for Sri Ram Nagar Sakthi Garden Phase II?

Sri Ram Nagar Sakthi Garden Phase II is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Sri Ram Nagar Sakthi Garden Phase II, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.