Guideline Value for Sriram Nagar 1st Main Road

Sriram Nagar 1st Main Road guideline value

The current guideline value of Sriram Nagar 1st Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sriram Nagar 1st Main Road has changed

Over the years, the guideline value of Sriram Nagar 1st Main Road has seen significant changes. In the 2007 revision, the value was Rs 400 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 650%. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, which was a 49% increase from the previous revision. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, a rise of 10% from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which aligns with the 2024 figure for Sriram Nagar 1st Main Road.

• Sriram Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South: Rs 3,300 per sq.ft (2024)
• Sri Sai Nagar: Rs 3,300 per sq.ft (2024)
• Sri Sai Nagar Ext: Rs 2,200 per sq.ft (2024)
• Sri Sai Nagar Extension Vishwak Garden: Rs 3,800 per sq.ft (2024)
• Sri Sakthi nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Sriram Nagar 1st Main Road?

The Sriram Nagar 1st Main Road 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. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of properties in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs involved in the transfer of property ownership. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Sriram Nagar 1st Main Road?

The current guideline value of Sriram Nagar 1st Main Road is Rs 3,300 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 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 725% across the years.

What is the median guideline value in Tambaram?

The median guideline value for the 360 streets in Tambaram under the Tambaram Joint 1 SRO is Rs 3,300 per sq.ft, which is the same as the current value for Sriram Nagar 1st Main Road.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sriram Nagar 1st Main Road?

The Sub Registrar Office covering Sriram Nagar 1st Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.