Guideline Value for SRIRAM NAGAR IST STREET

Sriram Nagar Ist Street guideline value

The current guideline value of Sriram Nagar Ist Street is Rs 9,900 per sq.ft. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sriram Nagar Ist Street has changed

The guideline value for Sriram Nagar Ist Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,181 per sq.ft, which increased to Rs 1,307 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,800 per sq.ft in 2007, a change of 38%. Following this, the value experienced a remarkable increase to Rs 9,000 per sq.ft in 2012, reflecting a 400% rise. However, it decreased to Rs 6,030 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 9,000 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 9,900 per sq.ft, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 738%. There are no figures available in the register for the years between these revisions.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, which is the same as the 2024 figure for Sriram Nagar Ist Street.

• Sri Ram Nagar Salai: Rs 9,900 per sq.ft (2024)
• Sriram Nagar 1st Cross Street: 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 Ist 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, bringing the total to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sriram Nagar Ist Street?

The Sriram Nagar Ist Street is covered by 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 plays a crucial role during the registration of property transactions in Thiruvanmiyur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property registration. Ensuring compliance with these values can facilitate a smoother transaction process.

Frequently asked questions

What is the current guideline value of Sriram Nagar Ist Street?

The current guideline value of Sriram Nagar Ist 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, reflecting 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 Sri Ram Nagar Salai, Sriram Nagar 1st Cross Street, Srinivasapuram Main Road, Srinivasapuram 3rd Street, Srinivasapuram 2nd Street, and Srinivasapuram 1st Street.

How is the stamp duty calculated for properties in Sriram Nagar Ist Street?

Stamp duty for properties in Sriram Nagar Ist Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 at the rate of 7%.

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

The Sub Registrar Office covering Sriram Nagar Ist 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 by visiting the relevant link.