Guideline Value for Sairam Nagar

Sairam Nagar guideline value

The current guideline value of Sairam Nagar is Rs 165 per sq.ft, effective from 1 July 2024. This area is located in Chendrampakkam village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sairam Nagar has changed

Over the years, the guideline value for Sairam Nagar has seen significant changes. The earliest recorded figure is from 2003, where it was Rs 14 per sq.ft. This figure increased to Rs 100 per sq.ft in 2007, then remained the same until 2012 when it rose to Rs 150 per sq.ft. However, it dropped to Rs 100 per sq.ft in 2017. The value then increased to Rs 150 per sq.ft in 2023, and finally to Rs 165 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2003 to 2024, the overall increase in the guideline value is Rs 14 to Rs 165 per sq.ft, which is a remarkable increase of 1079%. The register does not have a figure for Sairam Nagar for the year 2002.

Guideline values in Chendrampakkam

In Chendrampakkam, there are 13 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 385 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value for Sairam Nagar is below this median.

• R.V. Krishnan Chettiyar Nagar: Rs 275 per sq.ft (2024)
• Raj Nagar: Rs 385 per sq.ft (2024)
• Shanthi Nagar: Rs 275 per sq.ft (2024)
• Shanthi Nagar Annex-I: Rs 275 per sq.ft (2024)
• Shanthi Nagar Annex II: Rs 275 per sq.ft (2024)
• Sri Sai Residency: Rs 165 per sq.ft (2024)

Stamp duty and registration fee for property in Sairam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 165 per sq.ft, the total guideline value amounts to Rs 1,65,000. The stamp duty at 7% would be Rs 11,550, and the registration fee at 2% would be Rs 3,300, bringing the total fees to Rs 14,850. 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 details.

Which Sub Registrar Office covers Sairam Nagar?

The Sairam Nagar area is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chendrampakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duty are calculated accurately based on this value.

When buying or selling property, the guideline value helps to establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sairam Nagar?

The current guideline value of Sairam Nagar is Rs 165 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 14 per sq.ft in 2003 to Rs 165 per sq.ft in 2024, marking an overall increase of 1079% over this period.

What are the guideline values of other streets in Chendrampakkam?

Other streets in Chendrampakkam have varying guideline values, with rates ranging from Rs 165 to Rs 385 per sq.ft. The median value for these streets is Rs 275 per sq.ft.

How is the stamp duty calculated in Sairam Nagar?

The stamp duty in Sairam Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.

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

The Sub Registrar Office covering Sairam Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.