Guideline Value for Sarma Street

Sarma Street guideline value

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

How the guideline value of Sarma Street has changed

The guideline value for Sarma Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a rise of 283%. However, between 2012 and 2017, the value decreased to Rs 1,541 per sq.ft, a drop of 33%. The value then increased again to Rs 2,300 per sq.ft in 2023, showing a rise of 49% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,530 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2003 for Sarma Street. Overall, from 2007 to 2024, the guideline value has increased by 322%.

Guideline values in Irumpuliyur

In Irumpuliyur, 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 Sarma Street's 2024 figure above that median.

• Sathiya Sai Nagar Main Road 1: Rs 2,530 per sq.ft (2024)
• Sathiya Sai Nagar Main Road 2: Rs 2,530 per sq.ft (2024)
• Sathiya Sai Nagar Main Road 3: Rs 2,530 per sq.ft (2024)
• Sathya Sayee Street: Rs 2,200 per sq.ft (2024)
• Santhi Nagar: Rs 2,200 per sq.ft (2024)
• Sangazhinamman Koil Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Sarma Street

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, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarma Street?

Sarma Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

The guideline value plays a crucial role in property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sarma Street?

The current guideline value of Sarma 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 has changed significantly from Rs 600 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 322% over the years.

What is the land classification of Sarma Street?

Sarma Street is classified as Residential Special Type - I, indicating its suitability for residential development.

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

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

How is stamp duty calculated for properties in Sarma Street?

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