Guideline Value for Sri Sairam Nagar

Sri Sairam Nagar guideline value

The current guideline value of Sri Sairam Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Kadaperi village, under the Madurandakam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Sairam Nagar has changed

The guideline value of Sri Sairam Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The value then rose significantly to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft as of the 2024 revision. Notably, the register has no figure for this street in the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, the guideline value has increased by 83% from the 2007 figure to the current 2024 figure.

Guideline values in Kadaperi

In Kadaperi, there are 24 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,100 per sq.ft, with a median value of Rs 550 per sq.ft. Sri Sairam Nagar's 2024 guideline value is equal to this median.

• Sri Sakthi Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Sri Saibaba Nagar: Rs 1,100 per sq.ft (2024)
• Sri Eri Ramsai Nagar: Rs 770 per sq.ft (2024)
• Sri Sairam Nagar: Rs 550 per sq.ft (2024)
• Vishnu Nagar: Rs 550 per sq.ft (2024)
• Kadapperi Vivekanandhan Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sairam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost of these fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sairam Nagar?

The Sub Registrar Office that covers Sri Sairam Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kadaperi. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, both the buyer and seller must be aware of the guideline value to ensure compliance with legal requirements. This value helps in determining the official sale price for registration purposes, safeguarding the interests of all parties involved.

Frequently asked questions

What is the current guideline value of Sri Sairam Nagar?

The current guideline value of Sri Sairam Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over this period.

What are the stamp duty and registration fees for property in Sri Sairam Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles registrations for Sri Sairam Nagar?

The Madurandakam Sub Registrar Office handles registrations for Sri Sairam Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification for Sri Sairam Nagar?

Sri Sairam Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.