Guideline Value for Sri Ramanujar Nagar

Sri Ramanujar Nagar guideline value

The current guideline value of Sri Ramanujar Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Pillaippakkam-A village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Sri Ramanujar Nagar has changed

The guideline value for Sri Ramanujar Nagar has remained consistent at Rs 300 per sq.ft since the 2023 revision, which also had the same figure. Prior to that, the 2017 revision set the value at Rs 201 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2024, the guideline value has increased by 49%, with the current rate aligning with the median of Rs 300 per sq.ft for the 49 streets in Pillaippakkam-A that carry a 2024 figure.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, the guideline values range from Rs 100 to Rs 1,254 per sq.ft, with the median value being Rs 300 per sq.ft. Sri Ramanujar Nagar's current guideline value is equal to this median. The other streets in Pillaippakkam-A under the Sriperumpudur SRO include:

• Sri Ramanujar Town: Rs 300 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 400 per sq.ft (2024)
• Sri Parasuram Nagar: Rs 700 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 200 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 200 per sq.ft (2024)
• Sri Hari Krishna Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramanujar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ramanujar Nagar?

The Sub Registrar Office that covers Sri Ramanujar 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 details.

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

The guideline value is a crucial factor when registering property transactions in Pillaippakkam-A. It determines the stamp duty and registration fees that must be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions in the area. This value is used to calculate the applicable fees and taxes, providing a standardized approach to property registration.

Frequently asked questions

What is the current guideline value of Sri Ramanujar Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since the 2023 revision. It increased from Rs 201 per sq.ft in 2017, showing a 49% rise overall from 2017 to 2024.

What is the land classification of Sri Ramanujar Nagar?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft property at the current rate would incur a total fee of Rs 27,000.

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

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