Guideline Value for SRIRAM NAGAR EXTENSION

Sriram Nagar Extension guideline value

The current guideline value of Sriram Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Koladi village and falls under the Chennai South Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Sriram Nagar Extension has changed

The guideline value for Sriram Nagar Extension has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then rose again to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. 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.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Sriram Nagar Extension is above this median.

• Sri Srinivasa Nagar: Rs 660 per sq.ft (2024)
• Sri Subbaaraam Avenue: Rs 1,105 per sq.ft (2024)
• Sri Subharam Avenue: Rs 1,105 per sq.ft (2024)
• Sri Vari Avenue: Rs 1,650 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Bhuvaneswari Nagr: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration would be Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sriram Nagar Extension?

The Sriram Nagar Extension falls under the Chennai South Joint II 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 Koladi

The guideline value plays a crucial role in the registration process when buying or selling property in Koladi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and that all legal obligations are met during the registration process.

Frequently asked questions

What is the current guideline value of Sriram Nagar Extension?

The current guideline value of Sriram Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It acts as a benchmark for property transactions in the area.

Where can I find the Sub Registrar Office for Sriram Nagar Extension?

The Sub Registrar Office for Sriram Nagar Extension is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.