Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Vallam village, under the Sriperumpudur Sub Registrar Office (SRO), and is classified as Residential Class IV Type - I.

How the guideline value of Sri Ram Nagar has changed

Over the years, the guideline value for Sri Ram Nagar has seen several revisions. The 2007 revision set the value at Rs 35 per sq.ft, which increased significantly to Rs 150 per sq.ft in the 2012 revision. However, in the 2017 revision, it saw a decrease to Rs 100 per sq.ft, before rising again to Rs 150 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a 50% increase, while the 2012 to 2017 period experienced a decrease of 33%. The most notable change occurred from 2007 to 2012, with a staggering increase of 329%. Overall, from 2007 to 2024, the guideline value has increased by 329%.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Sri Ram Nagar is below this median.

• Sri Venkatachalapathy Nagar: Rs 410 per sq.ft (2024)
• Sri Vishnu Nagar: Rs 150 per sq.ft (2024)
• Sri Devi Nagar: Rs 150 per sq.ft (2024)
• Subhsri Nagar: Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 300 per sq.ft (2024)
• Sri Arabindo Nagar (Vasantham Nature City): Rs 200 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 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. 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 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 Vallam

The guideline value plays a crucial role during the registration of property transactions in Vallam. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value can affect the overall transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration 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 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 35 per sq.ft in 2007 to Rs 150 per sq.ft in 2012, then decreasing to Rs 100 per sq.ft in 2017, and returning to Rs 150 per sq.ft in both 2023 and 2024.

What are the guideline values of other streets in Vallam?

Other streets in Vallam have varying guideline values, ranging from Rs 150 to Rs 410 per sq.ft as of 2024. The median value for the area is Rs 200 per sq.ft.

What fees are associated with buying property in Sri Ram Nagar?

When buying property in Sri Ram Nagar, buyers need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or 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.