Guideline Value for Sairam Street

Sairam Street guideline value

The current guideline value of Sairam Street, located in Irumpuliyur village, is Rs 2,530 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification. The street is registered with the Tambaram Joint 1 SRO.

How the guideline value of Sairam Street has changed

The guideline value for Sairam Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,300 per sq.ft. In 2017, this value decreased to Rs 1,541 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 saw an increase to Rs 2,300 per sq.ft, and the latest revision in 2024 has raised it further to Rs 2,530 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 to 2024 revision shows a rise of 10%, while the 2017 to 2023 period experienced a significant increase of 49%. Notably, there are no recorded figures for Sairam Street in the revisions of 2002, 2003, and 2007.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Sairam Street's 2024 guideline value above this median.

• Sakthi Nagar: Rs 2,200 per sq.ft (2024)
• Sangazhinamman Koil Street: Rs 2,530 per sq.ft (2024)
• Santhi Nagar: Rs 2,200 per sq.ft (2024)
• Roja Thottam 2nd Street: Rs 1,650 per sq.ft (2024)
• Roja Thottam 1st Street: Rs 1,650 per sq.ft (2024)
• Sarma Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Sairam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, the total cost for stamp duty and registration fees would be Rs 2,27,700. It's important to note that 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 Street?

The Sairam Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Irumpuliyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties involved in the transaction. It helps in establishing a fair transaction value and is essential for calculating the associated costs, including stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Sairam Street?

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

How has the guideline value changed over the years?

The guideline value for Sairam Street has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for Sairam Street?

Sairam Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

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

The Sub Registrar Office covering Sairam Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Sairam Street?

Stamp duty for properties in Sairam Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.