Guideline Value for Sriram Street

Sriram Street guideline value

The current guideline value of Sriram Street in Gowrivakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Special Type - II.

How the guideline value of Sriram Street has changed

The guideline value for Sriram Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500 per sq.ft. The latest revision in 2024 has raised it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Sriram Street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 7%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO with guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Sriram Street's current value is below this median.

• Sri Hanuman Nagar: Rs 860 per sq.ft (2024)
• Tellus Avenue: Rs 2,650 per sq.ft (2024)
• Soundarya Nagar: Rs 1,600 per sq.ft (2024)
• Sivan Koil Rajaveedhi: Rs 860 per sq.ft (2024)
• Sivagami Nagar Thiruvalluvar Street & Extn: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Pirathana salai: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Sriram Street?

The Sub Registrar Office that covers Sriram Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Gowrivakkam

When buying or selling property in Gowrivakkam, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. This value is used as a benchmark for calculating the costs associated with property transactions, ensuring that both buyers and sellers are aware of the financial implications involved.

It is essential for buyers to be informed about the guideline value as it can affect their overall expenses during the registration process. Understanding this value helps in making informed decisions when engaging in property transactions in the area.

Frequently asked questions

What is the current guideline value of Sriram Street?

The current guideline value of Sriram Street is Rs 1,600 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 increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Sriram Street?

Sriram Street is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property on Sriram Street?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office for Sriram Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.