Guideline Value for SRIRAM NAGAR (CHEN)

Sriram Nagar (Chen) guideline value

The current guideline value of Sriram Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Sengundram - 1 village under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Sriram Nagar (Chen) has changed

Over the years, the guideline value of Sriram Nagar (Chen) has undergone several revisions. The earliest recorded figure is from 2012, which was Rs 800 per sq.ft. In 2017, the value decreased to Rs 536 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 800 per sq.ft. The latest revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sengundram - 1

Within Sengundram - 1, there are 126 streets that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft, with the median being Rs 880 per sq.ft. Sriram Nagar (Chen) aligns with this median at Rs 880 per sq.ft.

• Sri Ponni Nagar: Rs 1,971 per sq.ft (2024)
• Sri Sai Srinivasa Nagar (Chen): Rs 1,100 per sq.ft (2024)
• Srinivasapuram: Rs 880 per sq.ft (2024)
• Sri Sakthi Nagar (Chen): Rs 880 per sq.ft (2024)
• Sri Sathya Sai Nagar: Rs 1,560 per sq.ft (2024)
• Sri Nagar Part - II (Chen): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sriram Nagar (Chen)?

The Sriram Nagar (Chen) area falls under the Chengleput Joint II Sub Registrar Office located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value plays a crucial role when buying or selling property in Sengundram - 1. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is a reference point for the transaction and can influence the overall costs involved.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are levied. It is essential for both parties involved in the transaction to understand how the guideline value affects their financial obligations during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Sriram Nagar (Chen)?

The current guideline value of Sriram Nagar (Chen) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Sriram Nagar (Chen)?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Sriram Nagar (Chen)?

The Chengleput Joint II Sub Registrar Office covers Sriram Nagar (Chen), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification of Sriram Nagar (Chen)?

Sriram Nagar (Chen) is classified as Residential Class I Type - I, indicating its suitability for residential development.