Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Ram Nagar has changed

The guideline value for Sri Ram Nagar has seen several revisions over the years. In 2007, the value was set at Rs 550 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a growth of 118%. However, the value dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 1,200 per sq.ft, representing an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 118%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Vandalur

Currently, there are no specific village figures available for Vandalur. Sri Ram Nagar is part of the Gooduvancheri SRO, which oversees the registration of properties in this area.

Stamp duty and registration fee for property in Sri Ram Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 12,00,000. The stamp duty is charged at 7%, resulting in Rs 84,000, while the registration fee at 2% amounts to Rs 24,000. Together, the total cost for stamp duty and registration fee is Rs 1,08,000. It is important to note that 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?

The Gooduvancheri Sub Registrar Office covers Sri Ram Nagar. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Vandalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the financial obligations related to the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 550 per sq.ft to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and returned to Rs 1,200 per sq.ft in 2023.

What is the stamp duty rate for property in Sri Ram Nagar?

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

What fees are involved in registering property in Sri Ram Nagar?

In addition to stamp duty, there is a registration fee of 2% of the guideline value or sale price, whichever is higher, when registering property in Sri Ram Nagar.

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

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.