Guideline Value for SIR SAIRAM NAGAR

Sir Sairam Nagar guideline value

The current guideline value of Sir Sairam Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Kadaperi village, under the Madurandakam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sir Sairam Nagar has changed

The guideline value for Sir Sairam Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 500 per sq.ft, and the most recent 2024 revision has raised it to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kadaperi

In Kadaperi, there are 24 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,100 per sq.ft, with the median value being Rs 550 per sq.ft. Sir Sairam Nagar's 2024 guideline value aligns with this median.

• Sri Eri Ramsai Nagar: Rs 770 per sq.ft (2024)
• Sri Saibaba Nagar: Rs 1,100 per sq.ft (2024)
• Sri Sairam Nagar: Rs 550 per sq.ft (2024)
• Sri Sakthi Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Vishnu Nagar: Rs 550 per sq.ft (2024)
• Kadapperi Vivekanandhan Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sir Sairam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 Sir Sairam Nagar?

The Sub Registrar Office that covers Sir Sairam Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kadaperi, as it helps determine the stamp duty and registration fees applicable to the transaction. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When registering a property, the guideline value serves as a benchmark for calculating various fees, ensuring that both parties in the transaction are operating within the legal framework set by the Registration Department. It is essential for buyers and sellers to stay informed about these values to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Sir Sairam Nagar?

The current guideline value of Sir Sairam Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Sir Sairam Nagar?

Sir Sairam Nagar is classified as Residential Class I Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000. The stamp duty at 7% is Rs 38,500, and the registration fee at 2% is Rs 11,000, totaling Rs 49,500.

Which office handles registrations for properties in Sir Sairam Nagar?

The Madurandakam Sub Registrar Office handles registrations for properties in Sir Sairam Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.