Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Mevaloorkuppam B village under the Sriperumpudur SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Ram Nagar has changed

Over the years, the guideline value for Sri Ram Nagar has seen significant changes. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 1,000 per sq.ft, which was then reduced by 50% to Rs 500 per sq.ft in the 2024 revision.

This reduction marks a notable change in the guideline value, reflecting a shift in the valuation of properties in the area. The current value is now positioned at a lower rate compared to the previous year.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. The median value is Rs 400 per sq.ft, placing Sri Ram Nagar's 2024 figure above this median.

• Subasree Nagar: Rs 300 per sq.ft (2024)
• Sree Sayee Nagar: Rs 1,320 per sq.ft (2024)
• Sun Tech Co-op City: Rs 1,320 per sq.ft (2024)
• S&P The Crest: Rs 1,320 per sq.ft (2024)
• Thiruvalluvar Street: Rs 300 per sq.ft (2024)
• Selliyamman Koil Street: Rs 100 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the 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 Sub Registrar Office that covers Sri Ram Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mevaloorkuppam B. 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 helps in calculating the stamp duty and registration fees, which are essential costs associated with the transaction. Buyers should be aware of these values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2023 to Rs 500 per sq.ft in 2024, reflecting a 50% decrease. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Sri Ram Nagar?

Sri Ram Nagar is classified as Residential Class I Type - I, which indicates its designation for residential purposes within the local zoning regulations.

What are the stamp duty and registration fees for property in Sri Ram Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Sri Ram Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all registration activities for the area.