Guideline Value for SRIRAM NAGAR 1ST CROSS STREET

Sriram Nagar 1st Cross Street guideline value

The current guideline value of Sriram Nagar 1st Cross Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sriram Nagar 1st Cross Street has changed

The guideline value for Sriram Nagar 1st Cross Street has seen significant changes over the years. In 2002, the value was Rs 1,181 per sq.ft. It increased to Rs 1,307 per sq.ft in 2003, marking an 11% rise. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, a substantial increase of 38%. By 2012, the guideline value was Rs 9,000 per sq.ft, reflecting a remarkable 400% increase from the previous revision.

From 2012 to 2017, the value dropped to Rs 6,030 per sq.ft, indicating a decrease of 33%. However, the guideline value rebounded to Rs 9,000 per sq.ft in 2023, and as of 2024, it stands at Rs 9,900 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 738%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with 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, placing Sriram Nagar 1st Cross Street at this median value.

• Sriram Nagar Ist Street: Rs 9,900 per sq.ft (2024)
• Sri Ram Nagar Salai: Rs 9,900 per sq.ft (2024)
• Srinivasapuram Main Road: Rs 9,900 per sq.ft (2024)
• Srinivasapuram 3rd Street: Rs 9,900 per sq.ft (2024)
• Srinivasapuram 2nd Street: Rs 9,900 per sq.ft (2024)
• Srinivasapuram 1st Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar 1st Cross Street

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 at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sriram Nagar 1st Cross Street?

The Sub Registrar Office covering Sriram Nagar 1st Cross Street is 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 when registering property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must be aware that the guideline value is used to calculate these costs, ensuring transparency in the transaction process.

When you buy or sell property, the guideline value must be considered alongside the sale price. The stamp duty and registration fees are calculated based on the higher of the two values, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sriram Nagar 1st Cross Street?

The current guideline value of Sriram Nagar 1st Cross Street 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 changed significantly from Rs 1,181 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 738% over this period.

What are the other streets in Thiruvanmiyur with the same guideline value?

Other streets in Thiruvanmiyur with the same guideline value of Rs 9,900 per sq.ft include Sriram Nagar Ist Street, Sri Ram Nagar Salai, and several streets on Srinivasapuram.

What are the stamp duty and registration fees for property in Sriram Nagar 1st Cross Street?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Where can I find the Sub Registrar Office for Sriram Nagar 1st Cross Street?

The Sub Registrar Office for Sriram Nagar 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information online.