Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Selaiyur village under the Selaiyur SRO, is Rs 2,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Ram Nagar has changed

The guideline value of Sri Ram Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking an 800% rise. However, this was followed by a decrease to Rs 1,809 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 2,700 per sq.ft in 2023, and currently stands at Rs 2,900 per sq.ft from the 2024 revision, reflecting a 7% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 867%.

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 is Rs 2,200 per sq.ft, placing Sri Ram Nagar's current guideline value above this median.

• Sri Ram Nagar 1 to 4th Street: Rs 2,900 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 1,300 per sq.ft (2024)
• Sri Ram Nagar Ext: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase I: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase II: Rs 2,900 per sq.ft (2024)
• Sri Ranganatha Nagar Extension: Rs 1,800 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 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, making the total cost of duty and fees Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Sri Ram Nagar?

The Sri Ram Nagar area is covered by 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 information.

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

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 Selaiyur, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions.

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 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 300 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 867% over the years.

What is the land classification for Sri Ram Nagar?

Sri Ram Nagar is classified as Residential Special Type - I, which indicates the nature of land use in this area.

What are the stamp duty rates for property transactions?

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

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.