Guideline Value for SAIRAM NAGAR 2ND CROSS STREET

Sairam Nagar 2nd Cross Street guideline value

The current guideline value of Sairam Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Sairam Nagar 2nd Cross Street has changed

The guideline value for Sairam Nagar 2nd Cross Street has undergone several revisions over the years. The 2024 revision sets the value at Rs 3,300 per sq.ft, which is an increase from Rs 3,000 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 2,010 per sq.ft, reflecting a substantial increase of 49% from the 2017 figure to the 2023 figure. The 2012 revision also recorded a value of Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 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. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Sairam Nagar 2nd Cross Street above this median value.

• Sairam Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 1st Cross 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 2nd 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 be 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 and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sairam Nagar 2nd Cross Street?

The Sairam Nagar 2nd Cross Street is covered by 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 assistance.

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

The guideline value is a reference point used during the registration of property transactions in Medavakkam. It helps determine the stamp duty and registration fees applicable to a property, ensuring that these costs are calculated based on a standardized value.

When buying or selling property, the guideline value serves as a basis for assessing the financial obligations involved in the transaction. It is crucial for buyers and sellers to be aware of the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Sairam Nagar 2nd Cross Street?

The current guideline value of Sairam Nagar 2nd 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 increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Sairam Nagar 2nd Cross Street?

The land classification for Sairam Nagar 2nd Cross Street is Commercial Class I Type - II.

What are the stamp duty and registration fees for a property on this street?

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

Which office handles the registration for Sairam Nagar 2nd Cross Street?

The registration for Sairam Nagar 2nd Cross Street is handled by 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.