Guideline Value for Sri Puram

Sri Puram guideline value

The current guideline value of Sri Puram, located in Kerugambakkam village under the Pammal SRO, is Rs 1,980 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - II land classification.

How the guideline value of Sri Puram has changed

The guideline value for Sri Puram has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision set the value at Rs 1,206 per sq.ft, reflecting a significant increase of +49% to 2023.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by +64%.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sri Puram is below this median.

• Sri Lakshmi Nagar (ward 5): Rs 2,750 per sq.ft (2024)
• Sri Lakshmi Nagar Extn.: Rs 2,750 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 1,980 per sq.ft (2024)
• Sri Kamaladevi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Venkata Narayana Nagar: Rs 3,300 per sq.ft (2024)
• Smk Maansarovar Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making a total of Rs 1,78,200. 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 detailed calculations.

Which Sub Registrar Office covers Sri Puram?

The Sub Registrar Office that covers Sri Puram is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property’s worth.

Frequently asked questions

What is the current guideline value of Sri Puram?

The current guideline value of Sri Puram is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of +64%.

What is the land classification for Sri Puram?

Sri Puram falls under the Residential Class II Type - II land classification.

How is stamp duty calculated for properties in Sri Puram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.

Where can I find the Sub Registrar Office for Sri Puram?

The Sub Registrar Office for Sri Puram is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.