Guideline Value for SHRIRAM NAGAR MAIN ROAD 1ST STREET

Shriram Nagar Main Road 1st Street guideline value

The current guideline value for Shriram Nagar Main Road 1st Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Shriram Nagar Main Road 1st Street has changed

Over the years, the guideline value for Shriram Nagar Main Road 1st Street has seen significant changes. The register indicates that in 2002, the guideline value was Rs 442 per sq.ft. This value increased to Rs 485 per sq.ft in 2003, marking a 10% rise. The value then continued to rise to Rs 800 per sq.ft in 2007, reflecting a 65% increase. By 2012, it reached Rs 4,000 per sq.ft, which was a substantial increase of 400% from 2007. However, it dropped to Rs 2,680 per sq.ft in 2017, showing a decline of 33% from the previous revision. The value increased again to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,300 per sq.ft in 2024, representing an 8% increase.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 873%.

Guideline values in Perambur

In Perambur, the guideline values vary significantly, with 1,114 streets under the Purasaivakkam SRO carrying a 2024 figure ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, positioning Shriram Nagar Main Road 1st Street's 2024 figure above that median.

• Shriram Nagar Main Road 2nd Street: Rs 4,300 per sq.ft (2024)
• Singara Mudali Street: Rs 2,700 per sq.ft (2024)
• Shastri Nagar Streets: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Shastri Nagar 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shriram Nagar Main Road 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value amounts to Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, totaling Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shriram Nagar Main Road 1st Street?

The Sub Registrar Office that covers Shriram Nagar Main Road 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as per the local regulations. This helps maintain transparency and compliance with the legal requirements for property transactions.

Frequently asked questions

What is the current guideline value for Shriram Nagar Main Road 1st Street?

The current guideline value for Shriram Nagar Main Road 1st Street is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 442 per sq.ft in 2002 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 873% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000 and the registration fee would be Rs 86,000, totaling Rs 3,87,000.

Which Sub Registrar Office handles registrations for this street?

The Purasaivakkam Sub Registrar Office handles registrations for Shriram Nagar Main Road 1st Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, with Shriram Nagar Main Road 1st Street's value above this median at Rs 4,300 per sq.ft.