Guideline Value for SHRIRAM NAGAR MAIN ROAD 2ND STREET

Shriram Nagar Main Road 2nd Street guideline value

The current guideline value for Shriram Nagar Main Road 2nd Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Shriram Nagar Main Road 2nd Street has undergone several revisions over the years. In 2002, the guideline value was Rs 442 per sq.ft, which increased to Rs 485 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 800 per sq.ft in 2007, representing a 65% change. By 2012, the value remained at Rs 4,000 per sq.ft, but it dropped by 33% to Rs 2,680 per sq.ft in 2017.

In 2023, the guideline value rose to Rs 4,000 per sq.ft, and the most recent revision in 2024 set it at Rs 4,300 per sq.ft, reflecting an 8% increase. Overall, from 2002 to 2024, the guideline value has increased by 873%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, and Shriram Nagar Main Road 2nd Street's 2024 value is above this median.

• Shriram Nagar Main Road 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be 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, making the total amount Rs 3,87,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shriram Nagar Main Road 2nd Street?

The Sub Registrar Office that covers Shriram Nagar Main Road 2nd 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 the registration of property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's assessed value.

Frequently asked questions

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

The current guideline value for Shriram Nagar Main Road 2nd 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, showing an overall increase of 873% over the years.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, with Shriram Nagar Main Road 2nd Street's value being above this median.

What are the stamp duty and registration fees for a property 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 office handles registrations for Shriram Nagar Main Road 2nd Street?

The Purasaivakkam Sub Registrar Office handles registrations for Shriram Nagar Main Road 2nd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.