Guideline Value for sri ram nagar (south)

Sri Ram Nagar (South) guideline value

The current guideline value of Sri Ram Nagar (South) in Irumpuliyur village is Rs 3,300 per sq.ft, effective from the 2024 revision. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - III.

How the guideline value of Sri Ram Nagar (South) has changed

The guideline value for Sri Ram Nagar (South) has seen several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a remarkable increase of 500%. However, this value dropped to Rs 2,010 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision saw an increase to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the value rose by 49%, and overall, from 2007 to 2024, the guideline value has increased by 560%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing the 2024 figure for Sri Ram Nagar (South) above this median.

• Sriram Nagar South 1st Street: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South 2nd Street: Rs 3,300 per sq.ft (2024)
• Sri Ram Nagar (North): Rs 3,300 per sq.ft (2024)
• Sriram Nagar South 3rd Street: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South 4th Street: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar (South)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ram Nagar (South)?

The Sri Ram Nagar (South) area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Irumpuliyur. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the minimum value set by the government.

At the time of registration, the higher of the guideline value and the sale price will be considered for calculating the fees, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar (South)?

The current guideline value of Sri Ram Nagar (South) is Rs 3,300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the land classification for Sri Ram Nagar (South)?

Sri Ram Nagar (South) is classified as Residential Special Type - III under the Tambaram Joint 1 SRO.

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

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Sri Ram Nagar (South)?

The Sub Registrar Office covering Sri Ram Nagar (South) is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.