Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 2,201 per sq.ft. This value is effective from 1 July 2024 and falls under the Mixed Type - I land classification.

How the guideline value of Sri Ram Nagar has changed

The guideline value of Sri Ram Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision marked an increase to Rs 2,000 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,201 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The value then rose by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Puthagaram

In Puthagaram, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, placing Sri Ram Nagar's 2024 figure above this median.

• Sri Ram Nagar Extention: Rs 2,201 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 2,200 per sq.ft (2024)
• Sri sakthi Nagar Extention: Rs 2,200 per sq.ft (2024)
• Sri Sarweswari Avenu: Rs 2,200 per sq.ft (2024)
• Sri Singaravelavan Nagar: Rs 1,800 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,600 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 2,201 per sq.ft, the total guideline value amounts to Rs 22,01,000. The stamp duty at 7% would be Rs 1,54,070, and the registration fee at 2% would be Rs 44,020, bringing the total fees to Rs 1,98,090. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Ram Nagar?

The Sub Registrar Office that covers Sri Ram Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Puthagaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees payable. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from 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 2,201 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017. It then increased to Rs 2,000 per sq.ft in 2023 and is now Rs 2,201 per sq.ft in 2024.

What is the land classification for Sri Ram Nagar?

Sri Ram Nagar falls under the Mixed Type - I land classification, which indicates the type of usage permitted in this area.

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

For a property valued at Rs 22,01,000, the stamp duty would be Rs 1,54,070 and the registration fee would be Rs 44,020, totaling Rs 1,98,090.

Which office handles property registrations for Sri Ram Nagar?

The Ambattur Sub Registrar Office handles property registrations for Sri Ram Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.