Guideline Value for Sri Ramiah Nagar

Sri Ramiah Nagar guideline value

The current guideline value for Sri Ramiah Nagar, located in Malayambakkam village under the Kunrathur SRO, is Rs 935 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Ramiah Nagar has changed

The guideline value for Sri Ramiah Nagar has undergone several revisions over the years. In 2012, the value was Rs 850 per sq.ft, which decreased to Rs 569 per sq.ft in 2017. Following this, the value increased significantly to Rs 850 per sq.ft in 2023, and then to Rs 935 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO, with guideline values ranging from Rs 450 to Rs 2,750 per sq.ft. The median value is Rs 935 per sq.ft, which is equal to the current guideline value for Sri Ramiah Nagar.

• Sri Rajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Ranganathar Nagar: Rs 935 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,210 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 450 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramiah Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value amounts to Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, while the registration fee at 2% would be Rs 18,700, bringing the total cost for these fees to Rs 84,150. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Ramiah Nagar?

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

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

The guideline value is a critical factor in the registration of property transactions in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the Registration Department. This value is crucial for both buyers and sellers, as it influences the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value for Sri Ramiah Nagar?

The current guideline value for Sri Ramiah Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 850 per sq.ft in 2012, decreased to Rs 569 per sq.ft in 2017, increased to Rs 850 per sq.ft in 2023, and finally rose to Rs 935 per sq.ft in 2024.

What is the land classification for Sri Ramiah Nagar?

Sri Ramiah Nagar falls under the Residential Class I Type - I land classification.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Sri Ramiah Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 9,35,000, the stamp duty would be Rs 65,450 at 7%.