Guideline Value for SRI JAIRAM NAGAR

Sri Jairam Nagar guideline value

The current guideline value of Sri Jairam Nagar, located in Illaloor village, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Thiruporur SRO and is classified as Mixed Type - I.

How the guideline value of Sri Jairam Nagar has changed

Over the years, the guideline value of Sri Jairam Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase from Rs 500 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 335 per sq.ft, which means there was a significant increase of +49% to reach the 2023 figure. The 2012 revision also showed a value of Rs 500 per sq.ft, which reflects a decrease of -33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions available are from 2012, 2017, 2023, and 2024.

Guideline values in Illaloor

In Illaloor village, there are 17 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,100 per sq.ft, with a median value of Rs 1,150 per sq.ft. Sri Jairam Nagar's 2024 figure is below this median.

• Srikaram Seasons: Rs 1,150 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 660 per sq.ft (2024)
• Serasa Greens: Rs 1,396 per sq.ft (2024)
• Thangam Enclave Extn: Rs 739 per sq.ft (2024)
• Saithra Avenue: Rs 739 per sq.ft (2024)
• Omr Golden City: Rs 1,150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jairam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and 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 or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Jairam Nagar?

The Sub Registrar Office that covers Sri Jairam Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Illaloor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in assessing the official value of the property, which is necessary for legal documentation. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Jairam Nagar?

The current guideline value of Sri Jairam 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 2023 to Rs 550 per sq.ft in 2024, a +10% increase. From 2017 to 2023, it increased by +49%, while it decreased by -33% from 2012 to 2017.

What is the land classification for Sri Jairam Nagar?

Sri Jairam Nagar is classified as Mixed Type - I, which indicates the type of development and land use permitted in the area.

Where can I find the Sub Registrar Office for Sri Jairam Nagar?

The Thiruporur Sub Registrar Office covers Sri Jairam Nagar and is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated for property in Sri Jairam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 550 per sq.ft would incur a stamp duty of Rs 38,500.