Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Vallam village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Ram Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This remained unchanged in the 2017 revision, where the value dropped to Rs 670 per sq.ft, marking a decrease of 33%. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and this value has remained consistent through to the 2024 revision, which also lists the value at Rs 1,000 per sq.ft, showing no change.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 1,000 per sq.ft.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value figure ranging from Rs 750 to Rs 1,000 per sq.ft, with the median value being Rs 1,000 per sq.ft. Sri Ram Nagar's 2024 figure is equal to this median.

• Sri Venkatesvara Nagar: Rs 1,000 per sq.ft (2024)
• Sri Balaji nagar: Rs 850 per sq.ft (2024)
• Sri AathiBakavathi Nagar: Rs 800 per sq.ft (2024)
• Sree Nagar: Rs 850 per sq.ft (2024)
• TGM Nagar: Rs 850 per sq.ft (2024)
• Thirumalai Govinthan Nagar: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty is charged at 7%, which totals Rs 70,000, and the registration fee is charged at 2%, amounting to Rs 20,000. Together, the total cost for these fees would be Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ram Nagar?

The Chengleput Joint I Sub Registrar Office covers Sri Ram Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Vallam, the guideline value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions showing no change from 2023 to 2024, while the value increased by 49% from 2017 to 2023.

What is the land classification for Sri Ram Nagar?

Sri Ram Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

Where is the Chengleput Joint I Sub Registrar Office located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

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

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,00,000, the stamp duty at 7% would be Rs 70,000.