Guideline Value for Sri SaiRam Nagar

Sri SaiRam Nagar guideline value

The current guideline value of Sri SaiRam Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Orathur village under the Gooduvancheri SRO, classified as Residential Class I Type - I.

How the guideline value of Sri SaiRam Nagar has changed

Over the years, the guideline value of Sri SaiRam Nagar has seen several revisions. The register shows no figures for the years 2002, 2003, and 2007. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. However, from the 2017 revision, which was Rs 402 per sq.ft, to the 2023 revision, there was a significant increase of 49%.

From 2012 to 2017, the guideline value decreased by 33%. Overall, comparing the 2012 revision to the current 2024 figure, there has been no change, maintaining a guideline value of Rs 600 per sq.ft.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median value is Rs 500 per sq.ft, placing Sri SaiRam Nagar's 2024 figure above this median.

• Sri Saravana Nagar: Rs 500 per sq.ft (2024)
• Sri Saravana Nagar Phase I: Rs 500 per sq.ft (2024)
• Sri Shanmuga Nagar Phase-III: Rs 400 per sq.ft (2024)
• Sri Suraikai Chittar Nagar: Rs 400 per sq.ft (2024)
• Sri Thanga Ganesh Nagar: Rs 402 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri SaiRam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri SaiRam Nagar?

Sri SaiRam Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Orathur. It serves as a benchmark for determining the stamp duty and registration fees when registering a property sale or purchase. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is sold, the guideline value helps to establish the official value of the transaction, which is essential for legal and financial purposes. It is important for both parties to understand the implications of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri SaiRam Nagar?

The current guideline value of Sri SaiRam Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What is the land classification of Sri SaiRam Nagar?

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

What are the stamp duty and registration fees for properties in Sri SaiRam Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 6,00,000, the total fees would be Rs 54,000.

Which Sub Registrar Office handles transactions for Sri SaiRam Nagar?

The Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone, covers Sri SaiRam Nagar.