Guideline Value for Sri Ramachandra Nagar

Sri Ramachandra Nagar guideline value

The current guideline value of Sri Ramachandra Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in the village of Mangadu -A under the Kunrathur SRO, classified as Residential Class I 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. The 2017 revision set the value at Rs 1,139 per sq.ft. This increased to Rs 1,700 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 raised the value further to Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, 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 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 is the same as the guideline value for Sri Ramachandra Nagar.

• Sri Ram 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 Meenatchi Nagar: Rs 1,870 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 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total cost for these fees 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.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sri Ramachandra Nagar?

The Sub Registrar Office that covers Sri Ramachandra Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions 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 the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value of Sri Ramachandra Nagar?

The current guideline value of Sri Ramachandra 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 changed from Rs 1,139 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2023, and then to Rs 1,870 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

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

For a 1,000 sq.ft property, the total guideline value is Rs 18,70,000. The stamp duty would be Rs 1,30,900, and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which Sub Registrar Office covers this area?

The Kunrathur Sub Registrar Office covers Sri Ramachandra Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the minimum price at which a property can be registered. It ensures that the appropriate stamp duty and registration fees are collected based on the higher of the guideline value or the sale price.