Guideline Value for SAIRAM STREET

Sairam Street guideline value

The current guideline value of Sairam Street in Ramapuram village is Rs 3,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Sairam Street has changed

The guideline value for Sairam Street has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 2,800 per sq.ft in 2012, marking a rise of 211%. However, from 2012 to 2017, the value decreased to Rs 1,876 per sq.ft, a decline of 33%. The value then rose again to Rs 2,800 per sq.ft in 2023, and most recently, it has been revised to Rs 3,100 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 244%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, which aligns with the current value of Sairam Street.

• Sakthi Nagar: Rs 2,750 per sq.ft (2024)
• Sakthi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Sakthi Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Sakthi Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Sakthi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Rukmani Street: Rs 3,100 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 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total fees together to Rs 2,79,000. 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 Street?

Sairam Street is covered by the Chennai South Joint II 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 details.

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

The guideline value serves as a benchmark for property transactions in Ramapuram. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the authorities.

This value is crucial for both buyers and sellers as it helps in understanding the financial implications of property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sairam Street?

The current guideline value of Sairam Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,100 per sq.ft in 2024, reflecting an overall increase of 244% over the years.

What is the land classification of Sairam Street?

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

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

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

How is stamp duty calculated for properties in Sairam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 31,00,000, the stamp duty at 7% would amount to Rs 2,17,000.