Guideline Value for Shriram Nagar Extension

Shriram Nagar Extension guideline value

The current guideline value of Shriram Nagar Extension is Rs 1,650 per sq.ft, effective from the 2024 revision. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Shriram Nagar Extension has changed

Over the years, the guideline value of Shriram Nagar Extension has seen several revisions. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The next revision in 2023 saw an increase to Rs 1,500 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Shriram Nagar Extension.

• Shri Kishanlal Avenue: Rs 3,300 per sq.ft (2024)
• Shobha Queens Land: Rs 2,960 per sq.ft (2024)
• Shobha Castle Phase - I - Radhakrishnan Nagar: Rs 2,510 per sq.ft (2024)
• Shobha Castle Phase - II - Radhakrishnan Nagar: Rs 2,510 per sq.ft (2024)
• Shoba Empire: Rs 2,630 per sq.ft (2024)
• Silvermist Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Shriram Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on calculating fees.

Which Sub Registrar Office covers Shriram Nagar Extension?

The Sub Registrar Office covering Shriram Nagar Extension is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Varadarajapuram. It helps determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value serves as a baseline to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should 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 Shriram Nagar Extension?

The current guideline value of Shriram Nagar Extension is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Shriram Nagar Extension?

The land classification for Shriram Nagar Extension is Residential Special Type - II.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Shriram Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.