Guideline Value for sri ram nagar extn

Sri Ram Nagar Extn guideline value

The current guideline value for Sri Ram Nagar Extn, located in Nemili village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Ram Nagar Extn has changed

Over the years, the guideline value for Sri Ram Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a significant increase to Rs 201 per sq.ft, marking a 33% decrease from the previous revision. In the 2023 revision, the value returned to Rs 300 per sq.ft, and it has remained the same in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 300 per sq.ft.

Guideline values in Nemili

Nemili village has a total of 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,000 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Sri Ram Nagar Extn above this median.

• Sri Ram Nagar: Rs 400 per sq.ft (2024)
• Srinivasa Nagar: Rs 210 per sq.ft (2024)
• Sri Karpaga Vinayaga Nagar Part-1: Rs 1,000 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 210 per sq.ft (2024)
• Subash Chandrabose Street: Rs 150 per sq.ft (2024)
• Sowbagiya Co-operative Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Nagar Extn

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, charged at 7%, would be Rs 21,000, while the registration fee at 2% would be Rs 6,000. Together, the total fees would be Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Ram Nagar Extn?

The Sub Registrar Office that covers Sri Ram Nagar Extn is 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 Nemili

The guideline value is a crucial factor during the registration process of property transactions in Nemili. It serves as the basis for calculating the stamp duty and registration fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

When buying or selling property, the guideline value helps in determining the official value of the property for registration purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Sri Ram Nagar Extn?

The current guideline value for Sri Ram Nagar Extn is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 300 per sq.ft in both 2023 and 2024. The value was Rs 201 per sq.ft in 2017 and Rs 300 per sq.ft in 2012.

What is the land classification for Sri Ram Nagar Extn?

Sri Ram Nagar Extn falls under the Residential Class I Type - I land classification, which is designated for residential purposes.

Where can I find the Sub Registrar Office for Sri Ram Nagar Extn?

The Sub Registrar Office for Sri Ram Nagar Extn is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

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