Guideline Value for SHRIRAM NAGAR

Shriram Nagar guideline value

The current guideline value of Shriram Nagar, located in Thiruvanmiyur village under the Chennai South Joint I SRO, is Rs 9,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Shriram Nagar has changed

The guideline value of Shriram Nagar has seen significant changes over the years. In 2002, the value was Rs 1,181 per sq.ft, which increased to Rs 1,307 per sq.ft in 2003, marking an increase of 11%. This was followed by a rise to Rs 1,800 per sq.ft in 2007, which represented a substantial increase of 38%. The 2012 revision saw the value drop to Rs 9,000 per sq.ft, a decrease of 33%. However, from 2017, the value rose dramatically to Rs 6,030 per sq.ft, and then further increased to Rs 9,000 per sq.ft in 2023, before reaching the current value of Rs 9,900 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 738%. The revisions for the years 2012 and 2017 do not have figures listed for this street in the register.

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. The median value is Rs 9,900 per sq.ft, which is equal to the current guideline value of Shriram Nagar.

• Shriram Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Shriram Nagar 2nd Cross Street: Rs 11,000 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

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty, charged at 7%, would amount to Rs 6,93,000, while the registration fee at 2% would be Rs 1,98,000. Together, the total cost for stamp duty and registration fee would be Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Shriram Nagar?

Shriram Nagar falls under 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 is a crucial factor in property transactions in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during the transaction.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This value helps in standardizing the property registration process and ensuring transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Shriram Nagar?

The current guideline value of Shriram Nagar is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,181 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 738% over the years.

What is the land classification for Shriram Nagar?

Shriram Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Shriram Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value, which can be calculated using the current guideline value of Rs 9,900 per sq.ft.

Which office handles property registrations for Shriram Nagar?

The Chennai South Joint I Sub Registrar Office handles property registrations for Shriram Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.