Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Nemili village, is Rs 400 per sq.ft, effective from the 2024 revision. This area falls under the Sriperumpudur SRO and is classified as a New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Sri Ram Nagar has changed

Over the years, the guideline value for Sri Ram Nagar has undergone several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 400 per sq.ft in the 2012 revision. However, there was a decrease to Rs 268 per sq.ft in the 2017 revision, followed by a steady rate of Rs 400 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figures for this street for the years 2002 and 2003.

When examining the changes, the guideline value increased by 300% from Rs 100 in 2007 to Rs 400 in 2012. From 2017 to 2023, it saw a 49% increase, while the 2023 to 2024 revision showed no change at all. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Nemili

Nemili village has a total of 66 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 150 to Rs 1,000 per sq.ft. The median value for these streets is Rs 250 per sq.ft, making the current guideline value of Sri Ram Nagar, at Rs 400 per sq.ft, above the median.

• Sri Ram Nagar Extn: Rs 300 per sq.ft (2024)
• Srinivasa Nagar: Rs 210 per sq.ft (2024)
• Sri Karpaga Vinayaga Nagar Part-1: Rs 1,000 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 210 per sq.ft (2024)
• Subash Chandrabose Street: Rs 150 per sq.ft (2024)
• Sowbagiya Co-operative Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar

For a plot of 1,000 sq.ft at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, leading to a total of Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Ram Nagar?

The Sri Ram Nagar area is covered by 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 Nemili

The guideline value is a critical factor in the registration of property transactions in Nemili. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is bought or sold, the guideline value is used to calculate the applicable duties based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 400 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with significant increases and decreases. From Rs 100 in 2007, it rose to Rs 400 in 2012, decreased to Rs 268 in 2017, and has remained at Rs 400 in both 2023 and 2024.

What is the classification of land in Sri Ram Nagar?

Sri Ram Nagar is classified as a New House Site Type -II (Unapproved Lay-Out) under the current guidelines.

Where can I find the Sriperumpudur Sub Registrar Office?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, leading to a stamp duty of Rs 28,000.