Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Kolumanivakkam village under the Kunrathur SRO, is Rs 1,350 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Sri Ram Nagar has changed

The guideline value of Sri Ram Nagar has undergone several revisions over the years. In 2007, the value was Rs 820 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value saw a significant increase to Rs 1,200 per sq.ft in 2023, and the most recent revision in 2024 has set the value at Rs 1,350 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 13% increase. Overall, from 2007 to 2024, the guideline value has risen by 65%.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft. The median value is Rs 1,350 per sq.ft, making the guideline value of Sri Ram Nagar equal to this median.

• Sri Rajarajeswari Nagar: Rs 880 per sq.ft (2024)
• Srinivasa Nagar: Rs 880 per sq.ft (2024)
• Srinath Nagar: Rs 1,930 per sq.ft (2024)
• Sri Thirupathi Nagar Phase II & III: Rs 1,350 per sq.ft (2024)
• Sri Maruthi Nagar: Rs 880 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 880 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 1,350 per sq.ft, the total guideline value amounts to Rs 13,50,000. The stamp duty at 7% would be Rs 94,500, and the registration fee at 2% would be Rs 27,000, bringing the total fees together to Rs 1,21,500. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ram Nagar?

Sri Ram Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kolumanivakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when a property is sold. The fees are calculated based on the guideline value or the actual sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property registration. It also helps in estimating the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 820 per sq.ft in 2007 to Rs 1,350 per sq.ft in 2024. There have been increases and decreases in various revisions, with the most recent change being a 13% increase from 2023 to 2024.

What is the median guideline value in Kolumanivakkam?

The median guideline value in Kolumanivakkam is Rs 1,350 per sq.ft, which is also the current value for Sri Ram Nagar.

What are the stamp duty rates for properties in Sri Ram Nagar?

The stamp duty for properties in Sri Ram Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information by visiting the relevant link.