Guideline Value for Sri Ramakrishna Nagar

Sri Ramakrishna Nagar guideline value

The current guideline value for Sri Ramakrishna Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class III Type - II.

How the guideline value of Sri Ramakrishna Nagar has changed

The guideline value for Sri Ramakrishna Nagar has undergone several revisions over the years. The earliest recorded value was Rs 600 per sq.ft in 2007. This increased to Rs 1,200 per sq.ft in 2012, marking a significant rise of 100%. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 1,200 per sq.ft in 2023, followed by another rise to the current value of Rs 1,300 per sq.ft in 2024, which is an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sri Ramakrishna Nagar is below this median.

• Sri Ram Nagar: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar 1 to 4th Street: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Ext: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase I: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase II: Rs 2,900 per sq.ft (2024)
• Sri Ranganatha Nagar Extension: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramakrishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Ramakrishna Nagar?

The Sub Registrar Office covering Sri Ramakrishna Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property sales.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Ramakrishna Nagar?

The current guideline value of Sri Ramakrishna Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117%.

What is the land classification for Sri Ramakrishna Nagar?

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

What are the stamp duty and registration fees based on the guideline value?

Stamp duty is charged at 7% and registration fees at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,17,000 in fees.

Where can I find the Sub Registrar Office for Sri Ramakrishna Nagar?

The Sub Registrar Office for Sri Ramakrishna Nagar is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details through the provided link.