Guideline Value for SRIRAM NAGAR

Sriram Nagar guideline value

The current guideline value of Sriram Nagar, located in Thiruvancheri village under the Pallavaram SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Sriram Nagar has changed

The guideline value for Sriram Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft. This figure was revised to Rs 1,206 per sq.ft in 2017, marking a decrease of 33%. However, the subsequent revision in 2023 saw a significant increase to Rs 2,300 per sq.ft, which was a rise of 91%. The most recent revision in 2024 further increased the guideline value to Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 41%.

Guideline values in Thiruvancheri

In Thiruvancheri village, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, positioning Sriram Nagar's 2024 figure above this median.

• Sri Jaganath Avenue: Rs 3,850 per sq.ft (2024)
• Suppan Street: Rs 1,980 per sq.ft (2024)
• S.V.Farms Cross Streets-II: Rs 2,530 per sq.ft (2024)
• S.V.Farms Paruthi Main Road I: Rs 2,530 per sq.ft (2024)
• Siva Shanmuga Pillai Street: Rs 1,980 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,980 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 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, the total cost for these fees would be Rs 2,27,700. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Sriram Nagar?

The Sub Registrar Office that covers Sriram Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Thiruvancheri

The guideline value is an essential factor in the registration process when buying or selling property in Thiruvancheri. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sriram Nagar?

The current guideline value of Sriram Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 2,530 per sq.ft in 2024, with notable increases in 2023 and 2024.

What is the land classification of Sriram Nagar?

Sriram Nagar is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

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

The Pallavaram Sub Registrar Office covers Sriram Nagar and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property in Sriram Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 25,30,000 would incur a stamp duty of Rs 1,77,100 at a rate of 7%.