Guideline Value for Sri Ramanujar Town

Sri Ramanujar Town guideline value

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

How the guideline value of Sri Ramanujar Town has changed

The guideline value for Sri Ramanujar Town has undergone several revisions over the years. The 2017 revision recorded a value of Rs 201 per sq.ft, which increased to Rs 300 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase from 2017 to 2023. Notably, there was no change from 2023 to 2024, maintaining the value at Rs 300 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The 2024 revision marks a significant increase of 49% from the 2017 figure, highlighting the changes that have occurred over the years.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,254 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which is equal to the current guideline value of Sri Ramanujar Town.

• Sri Ramanujar Nagar: 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 Town

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ramanujar Town?

Sri Ramanujar Town falls under the jurisdiction of 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 Pillaippakkam-A

The guideline value is an essential factor during property registration in Pillaippakkam-A. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is crucial for buyers to be aware of the guideline value to ensure they are not overpaying for a property compared to its registered value.

Frequently asked questions

What is the current guideline value of Sri Ramanujar Town?

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

How much has the guideline value changed over the years?

The guideline value increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in both 2023 and 2024, resulting in a 49% increase over this period.

What is the land classification for Sri Ramanujar Town?

Sri Ramanujar Town is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Sri Ramanujar Town?

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

How is stamp duty calculated for properties in Sri Ramanujar Town?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000.