Guideline Value for SRIRAM NAGAR

Sriram Nagar guideline value

The current guideline value of Sriram Nagar, located in Kizhavalem village under the Madurandakam SRO, is Rs 120 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Sriram Nagar has changed

Over the years, the guideline value for Sriram Nagar has seen several revisions. The 2012 revision set the value at Rs 120 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 120 per sq.ft. The 2017 revision marked a significant increase to Rs 80 per sq.ft, reflecting a 50% increase from the previous revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but overall, from 2012 to 2024, it has remained constant at Rs 120 per sq.ft. The current 2024 figure shows no change from the previous year, indicating stability in the guideline value for this street.

Guideline values in Kizhavalem

Kizhavalem village has 19 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 103 per sq.ft. Sriram Nagar's guideline value of Rs 120 per sq.ft is above this median.

• Sri Ranga Nagar: Rs 101 per sq.ft (2024)
• Sri Ranga Nagar Phase - II: Rs 100 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 103 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 400 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 103 per sq.ft (2024)
• Sri Balaji Associates Sri Ranga Nagar State Hith Way Golden City: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value amounts to Rs 1,20,000. The stamp duty at 7% would be Rs 8,400, and the registration fee at 2% would be Rs 2,400, totaling Rs 10,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sriram Nagar?

The Sub Registrar Office that covers Sriram Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kizhavalem. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is referenced to ensure that the transaction is recorded accurately. This value serves as a benchmark for calculating the fees associated with the registration of the property.

Frequently asked questions

What is the current guideline value of Sriram Nagar?

The current guideline value of Sriram Nagar is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained Rs 120 per sq.ft since 2012, with a notable increase to Rs 80 per sq.ft in 2017, followed by a return to Rs 120 per sq.ft in 2023 and 2024.

What are the other streets in Kizhavalem and their guideline values?

Other streets in Kizhavalem include Sri Ranga Nagar at Rs 101 per sq.ft, Sri Ranga Nagar Phase - II at Rs 100 per sq.ft, and Sri Moogambigai Nagar at Rs 400 per sq.ft, among others.

What fees are associated with buying property in Sriram Nagar?

When buying property in Sriram Nagar, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sriram Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.