Guideline Value for Sri Ramachandra Nagar

Sri Ramachandra Nagar guideline value

The current guideline value of Sri Ramachandra Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Eraiyur village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Ramachandra Nagar has changed

The guideline value for Sri Ramachandra Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 350 per sq.ft. This figure remained unchanged until the next revision in 2017, when it decreased to Rs 234 per sq.ft, marking a decline of 33%. The value then increased by 50% in 2023, reaching Rs 350 per sq.ft again. The latest revision in 2024 maintained this figure at Rs 350 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Thus, the revisions we focus on are from 2012, 2017, 2023, and 2024.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 471 per sq.ft. The median guideline value in the village is Rs 200 per sq.ft, placing Sri Ramachandra Nagar's 2024 figure above that median.

• Sri Lakshmi Nagar: Rs 200 per sq.ft (2024)
• Sri Vanmugil Avenue: Rs 300 per sq.ft (2024)
• Sri Ensamy Nagar: Rs 350 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 200 per sq.ft (2024)
• Sumangali Nagar: Rs 350 per sq.ft (2024)
• Sumangali Nagar Extn: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramachandra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ramachandra Nagar?

The Sub Registrar Office covering Sri Ramachandra Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Eraiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must declare the sale price, and the registration office will charge the stamp duty based on the higher of the sale price or the guideline value. This ensures transparency in property transactions and helps in maintaining a fair valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Sri Ramachandra Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 350 per sq.ft in 2024, unchanged from 2023. The value decreased from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, before increasing to Rs 350 per sq.ft in 2023.

What is the land classification of Sri Ramachandra Nagar?

Sri Ramachandra Nagar is classified as Residential Special Type - I. This classification affects the guideline value and the types of properties that can be developed in the area.

Where is the Sub Registrar Office for Sri Ramachandra Nagar located?

The Sub Registrar Office for Sri Ramachandra Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Ramachandra Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 350 per sq.ft would incur a total stamp duty of Rs 24,500 at 7%.