Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This village is located in Mangadu -A under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Ram Nagar has changed

The guideline value for Sri Ram Nagar has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,139 per sq.ft, which increased to Rs 1,700 per sq.ft in the 2023 revision. The most recent revision in 2024 set the guideline value at Rs 1,870 per sq.ft, marking a significant increase of 10% from the previous year. Notably, the overall increase from 2017 to 2024 is 64%.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, indicating a substantial rise in the guideline value over these years.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, which aligns with the guideline value of Sri Ram Nagar.

• Sri Ramachandra Nagar: Rs 1,870 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,540 per sq.ft (2024)
• Srinivasa Colony Nagar: Rs 1,540 per sq.ft (2024)
• Sri MuthuSwamy Avenue: Rs 1,540 per sq.ft (2024)
• Sri Murugan Nagar: Rs 1,540 per sq.ft (2024)
• Sri Veera Anjaneyar Koil Street: Rs 1,540 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 1,870 per sq.ft, the guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, while the registration fee at 2% would be Rs 37,400, bringing the total to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ram Nagar?

The Sri Ram Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in the property registration process in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements 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 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,139 per sq.ft in 2017 to Rs 1,870 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification of Sri Ram Nagar?

Sri Ram Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What is the stamp duty rate for properties in Sri Ram Nagar?

The stamp duty rate for properties in Sri Ram Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it serves the Sri Ram Nagar area.