Guideline Value for SHRIRAM NAGAR 2ND CROSS STREET

Shriram Nagar 2nd Cross Street guideline value

The current guideline value of Shriram Nagar 2nd Cross Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village under the Chennai South Joint I SRO, and is classified as Residential Special Type - II.

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

Looking back at the revisions, the guideline value for Shriram Nagar 2nd Cross Street was Rs 10,000 per sq.ft in 2023, which increased to Rs 11,000 per sq.ft in 2024, marking a 10% increase. Prior to that, in 2017, the value was Rs 6,700 per sq.ft, indicating a significant rise of 49% over the six years leading up to 2023. The value in 2012 was Rs 10,000 per sq.ft, which reflects a decrease of 33% to the 2017 figure. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. Shriram Nagar 2nd Cross Street's 2024 figure of Rs 11,000 per sq.ft is above this median.

• Shriram Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Shriram Nagar: Rs 9,900 per sq.ft (2024)
• Shriram Nagar Main Road: Rs 9,900 per sq.ft (2024)
• Shri V.P. Ramapandia Raji Avenue: Rs 9,900 per sq.ft (2024)
• Shanthi Lane: Rs 7,150 per sq.ft (2024)
• Shanthi Avenue 34 35 36 37 L.I.G. Coloney (Vigneswar Nagar): Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Shriram Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty, charged at 7%, would be Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000, bringing the total fees to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Shriram Nagar 2nd Cross Street is 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 Thiruvanmiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as a basis for calculating the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value for Shriram Nagar 2nd Cross Street?

The current guideline value for Shriram Nagar 2nd Cross Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2023 to Rs 11,000 per sq.ft in 2024, a 10% increase. It was Rs 6,700 per sq.ft in 2017 and Rs 10,000 per sq.ft in 2012, showing a significant rise and fall in values over the years.

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

Shriram Nagar 2nd Cross Street is classified as Residential Special Type - II. This classification is important for determining the usage and regulations for properties in the area.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Shriram Nagar 2nd Cross 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 Thiruvanmiyur?

Stamp duty for properties in Thiruvanmiyur is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee, which are applied to the determined value.