Guideline Value for SAIRAM NAGAR 1ST CROSS STREET

Sairam Nagar 1st Cross Street guideline value

The current guideline value of Sairam Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Sairam Nagar 1st Cross Street has changed

The guideline value for Sairam Nagar 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, it rose to Rs 3,000 per sq.ft again in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sairam Nagar 1st Cross Street is above this median.

• Sairam Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar / All Street: Rs 3,300 per sq.ft (2024)
• Sakthi Auenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sairam Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total 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.

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

Which Sub Registrar Office covers Sairam Nagar 1st Cross Street?

The Sairam Nagar 1st Cross Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Medavakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sairam Nagar 1st Cross Street?

The current guideline value of Sairam Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Medavakkam with the same guideline value?

Other streets in Medavakkam with the same guideline value of Rs 3,300 per sq.ft include Sairam Nagar 1st Street, Sairam Nagar 2nd Cross Street, Sairam Nagar 2nd Street, Sairam Nagar 3rd Street, and Sairam Nagar / All Street.

What is the stamp duty for a property in Sairam Nagar 1st Cross Street?

The stamp duty for a property in Sairam Nagar 1st Cross Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sairam Nagar 1st Cross Street?

The Sub Registrar Office covering Sairam Nagar 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.