Guideline Value for Sriram Nagar 2nd Street

Sriram Nagar 2nd Street guideline value

The current guideline value of Sriram Nagar 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Sriram Nagar 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft, marking a drop of 33%. The value increased significantly in the 2023 revision to Rs 1,200 per sq.ft, and then rose again to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Sriram Nagar 2nd Street is below this median.

• Sriram Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 6th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 7th Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sriram Nagar 2nd Street?

The Sriram Nagar 2nd Street 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. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Peerklankaranai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sriram Nagar 2nd Street?

The current guideline value of Sriram Nagar 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Sriram Nagar 2nd Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Sriram Nagar 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How does the guideline value affect property transactions?

The guideline value affects property transactions as it determines the minimum registration value for properties. It impacts the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or sale price.