Guideline Value for Sairam Street

Sairam Street guideline value

The current guideline value of Sairam Street in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - III.

How the guideline value of Sairam Street has changed

Over the years, the guideline value of Sairam Street has seen significant changes. Starting from the 2002 revision, the value was Rs 330 per sq.ft. In 2003, it increased to Rs 376 per sq.ft, marking a 14% rise. The value continued to grow, reaching Rs 900 per sq.ft in 2007, which was an increase of 139%. The 2012 revision saw the value at Rs 3,500 per sq.ft, representing a substantial 289% increase from the previous figure. However, this value dropped to Rs 2,345 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,900 per sq.ft, an increase of 11% from the previous year.

There are no figures available for the years other than those listed in the register for Sairam Street. Overall, from 2002 to 2024, the guideline value has increased by 1082%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the 2024 guideline value of Sairam Street.

• Sakthi Nagar: Rs 4,400 per sq.ft (2024)
• Sakthi Nagar Extension: Rs 3,900 per sq.ft (2024)
• Sanjaygandhi Nagar: Rs 3,900 per sq.ft (2024)
• Sanjay Gandhi Nagar I, II, Street / Lane: Rs 3,900 per sq.ft (2024)
• Roja Street: Rs 3,900 per sq.ft (2024)
• Sannathi Street: Rs 3,900 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total fees would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sairam Street?

The Sub Registrar Office that covers Sairam Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is considered the minimum value for registration purposes, ensuring that the property is registered at a value that reflects its worth in the market.

When selling property, the guideline value also helps in establishing a transparent transaction process. It ensures that both buyers and sellers have a clear understanding of the minimum value at which the property can be registered, making the process more straightforward and equitable.

Frequently asked questions

What is the current guideline value of Sairam Street?

The current guideline value of Sairam Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1082% over this period.

What is the land classification for Sairam Street?

Sairam Street is classified as Residential Class I Type - III.

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

The Sub Registrar Office for Sairam Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

The stamp duty for properties on Sairam Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty would be Rs 2,73,000 based on the current guideline value.