Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Alamathi village under the Redhills SRO, is Rs 990 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Ram Nagar has changed

The guideline value for Sri Ram Nagar has seen several revisions over the years. Starting from Rs 19 per sq.ft in 2003, it increased significantly to Rs 200 per sq.ft in 2007, marking a remarkable rise of 953%. The value then rose to Rs 900 per sq.ft in 2012, which represented a 350% increase from the previous revision. However, it dropped to Rs 603 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased to Rs 900 per sq.ft in 2023, before reaching the current value of Rs 990 per sq.ft in 2024, an increase of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 5111%. The register does not have a figure for the year 2002 for this street.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with a median value of Rs 550 per sq.ft. Sri Ram Nagar's 2024 figure is above this median.

• Sri Ram Modern City: Rs 990 per sq.ft (2024)
• Sri Ram Nagar West: Rs 550 per sq.ft (2024)
• Sri Ragavendra Modern Town: Rs 550 per sq.ft (2024)
• Sri Vari Garden: Rs 1,100 per sq.ft (2024)
• Sri Venkatesa Nagar: Rs 550 per sq.ft (2024)
• Sri Venkateshwara Nagar Modern Town: Rs 550 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, resulting in a total of Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our 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 Redhills Sub Registrar Office, located at Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Alamathi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 19 per sq.ft in 2003 to Rs 990 per sq.ft in 2024, reflecting significant increases and one decrease over the years.

What is the land classification for Sri Ram Nagar?

Sri Ram Nagar is classified as Residential Special Type - II, which indicates its zoning for residential purposes.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 9,90,000, the total fees would amount to Rs 89,100.

Which office handles registrations for Sri Ram Nagar?

The Redhills Sub Registrar Office handles registrations for Sri Ram Nagar. The office is located at Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.