Guideline Value for SRIRAM NAGAR

Sriram Nagar guideline value

The current guideline value of Sriram Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Uthukottai village and falls under the Oothukkottai SRO, classified as Residential Class I Type - I.

How the guideline value of Sriram Nagar has changed

The guideline value for Sriram Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft, which was a decrease of 33% from Rs 335 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 500 per sq.ft, and the most recent 2024 revision also holds the value at Rs 500 per sq.ft, showing no change from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 regarding the guideline value for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Uthukottai

In Uthukottai, there are 120 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft, with a median of Rs 500 per sq.ft. The guideline value for Sriram Nagar is equal to this median.

• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• South Kalvaikarai: Rs 300 per sq.ft (2024)
• Taluk Office Street: Rs 500 per sq.ft (2024)
• Telephone Exchange Cross Street: Rs 400 per sq.ft (2024)
• Telephone Exchange Street: Rs 500 per sq.ft (2024)
• THIRUVALLUR ROAD BALAJINAGAR 1st LANE: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sriram Nagar?

The Sub Registrar Office that covers Sriram Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai 602026. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Uthukottai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sriram Nagar?

The current guideline value of Sriram Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 500 per sq.ft in 2023 and 2024. The value was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

What is the land classification for Sriram Nagar?

Sriram Nagar is classified as Residential Class I Type - I, which indicates its designation for residential use.

What are the stamp duty and registration fees for a property in Sriram Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or sale price, whichever is higher.

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

The Oothukkottai Sub Registrar Office covers Sriram Nagar and is located near the government hospital in Uthukottai, Chennai 602026.