Guideline Value for Sri Ram Nagar

Sri Ram Nagar guideline value

The current guideline value of Sri Ram Nagar, located in Arumanthi village under the Redhills SRO, is Rs 165 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III 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. From the 2003 revision, where it was Rs 16 per sq.ft, it increased to Rs 50 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 150 per sq.ft, but it then decreased to Rs 100 per sq.ft in 2017. The value further increased to Rs 150 per sq.ft in 2023 before reaching the current rate of Rs 165 per sq.ft in 2024.

In terms of percentage changes, the value increased by 213% from 2003 to 2007, decreased by 33% from 2012 to 2017, and increased by 50% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. The register has no figure for this street for the year 2002.

Guideline values in Arumanthi

In Arumanthi, there are 16 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 1,100 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value of Sri Ram Nagar is below this median.

• Sri Sai Sakthi Avenue: Rs 220 per sq.ft (2024)
• Sri Sankara Bala Subramaniya 400' Highway City: Rs 220 per sq.ft (2024)
• Sri Vadivambigai Ring Road Garden: Rs 220 per sq.ft (2024)
• Sri Krishna Nagar: Rs 330 per sq.ft (2024)
• Sri Bhavani Amman Garden: Rs 330 per sq.ft (2024)
• Sundarraj Avenue: Rs 330 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 165 per sq.ft, the total guideline value would be Rs 1,65,000. The stamp duty, charged at 7%, would amount to Rs 11,550, while the registration fee at 2% would be Rs 3,300. Together, the total cost for stamp duty and registration fee would be Rs 14,850. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Ram Nagar?

The Sub Registrar Office that covers Sri Ram Nagar is the Redhills Sub Registrar Office, located at 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 Arumanthi

The guideline value plays a crucial role during property transactions in Arumanthi. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. When registering a property, the guideline value or the sale price, whichever is higher, is used to calculate the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar?

The current guideline value of Sri Ram Nagar is Rs 165 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 16 per sq.ft in 2003 to Rs 165 per sq.ft in 2024, reflecting an overall increase of 931% over the years.

What is the land classification of Sri Ram Nagar?

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

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for stamp duty and registration fees would be Rs 14,850.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.