Guideline Value for SAIRAM STREET

Sairam Street guideline value

The current guideline value of Sairam Street in Jelandianpettai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sairam Street has changed

Over the years, the guideline value of Sairam Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, reflecting a 10% rise. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, marking a significant increase of 49% by 2023. The 2012 revision had set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017.

The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. It is important to note that there are no figures available for Sairam Street in the revisions for the years 2002, 2003, and 2007.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which indicates that Sairam Street's 2024 guideline value is below the median.

• Saiganesh Nagar Valluvar Street: Rs 2,200 per sq.ft (2024)
• Sai Ganesh Nagar (Part I To III): Rs 2,200 per sq.ft (2024)
• Sai Ganesh Nagar Part-II: Rs 1,480 per sq.ft (2024)
• Saiganesh Nagar 9th Cross Street: Rs 2,200 per sq.ft (2024)
• Saiganesh Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Saiganesh Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sairam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sairam Street?

The Sairam Street falls under the jurisdiction of 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 Jelandianpettai

The guideline value plays a crucial role in the registration process of property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, which can impact their financial planning.

Frequently asked questions

What is the current guideline value of Sairam Street?

The current guideline value of Sairam Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a 10% increase. It was Rs 1,005 per sq.ft in 2017, which increased by 49% to 2023.

What is the land classification for Sairam Street?

Sairam Street is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Sairam Street?

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

How is the stamp duty calculated for properties in Sairam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.