Guideline Value for Srimadhe Ramanujar Nagar Part - II

Srimadhe Ramanujar Nagar Part - II guideline value

The current guideline value for Srimadhe Ramanujar Nagar Part - II is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village under the Sriperumpudur SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Srimadhe Ramanujar Nagar Part - II has changed

The guideline value for Srimadhe Ramanujar Nagar Part - II has seen several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 700 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 469 per sq.ft. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and from 2017 to 2024, it has remained consistent, resulting in an overall increase of 49% since 2017. The guideline value has not changed between 2023 and 2024, reflecting stability in this period.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value among these streets is Rs 700 per sq.ft, which matches the guideline value of Srimadhe Ramanujar Nagar Part - II.

• Srimadhe Ramanujar Nagar: Rs 700 per sq.ft (2024)
• Sri Mangadu Kamachi Nagar: Rs 400 per sq.ft (2024)
• Sri Nagar: Rs 700 per sq.ft (2024)
• Sri Nagar Phase - II: Rs 700 per sq.ft (2024)
• Srinivasa nagar: Rs 700 per sq.ft (2024)
• Sri Karpagavinayagar Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Srimadhe Ramanujar Nagar Part - II

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty is charged at 7%, which totals Rs 49,000, while the registration fee at 2% comes to Rs 14,000. Therefore, the total cost for stamp duty and registration would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srimadhe Ramanujar Nagar Part - II?

The Sub Registrar Office that covers Srimadhe Ramanujar Nagar Part - II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Sriperumbudur A. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the property is not undervalued.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that the duty is charged 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 Srimadhe Ramanujar Nagar Part - II?

The current guideline value of Srimadhe Ramanujar Nagar Part - II is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft for both the 2023 and 2024 revisions, while it was Rs 469 per sq.ft in 2017. This indicates a 49% increase from 2017 to 2023, and the same overall increase from 2017 to 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 7,00,000, the stamp duty is Rs 49,000, and the registration fee is Rs 14,000, totaling Rs 63,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations for Srimadhe Ramanujar Nagar Part - II?

The Sriperumpudur Sub Registrar Office handles property registrations for Srimadhe Ramanujar Nagar Part - II, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the significance of guideline value in property transactions?

The guideline value is significant as it sets the minimum value for property registration, ensuring that properties are not undervalued. It is also used to calculate the stamp duty and registration fees during the buying and selling process.