Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Manimangalam A village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II 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 earliest recorded revision was in 2017, where the value was set at Rs 469 per sq.ft. This figure increased significantly to Rs 700 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 770 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Sri Ram Nagar's current value below this median.

• Sri Rajagopala Swamy Sannathi Street: Rs 880 per sq.ft (2024)
• Sri Sri Hariharan Nagar: Rs 550 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 880 per sq.ft (2024)
• Sri Vetri Nagar: Rs 880 per sq.ft (2024)
• Sri Lakshmi Nagar Extn: Rs 770 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 770 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty, charged at 7%, would be Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, these fees total Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ram Nagar?

The Sub Registrar Office that covers Sri Ram Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manimangalam A. It establishes a baseline for the value of the property and is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024, marking an overall increase of 64% over the seven years.

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 the 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 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Manimangalam A?

The median guideline value for streets in Manimangalam A is Rs 880 per sq.ft, while Sri Ram Nagar's current guideline value is below this median at Rs 770 per sq.ft.