Guideline Value for Sriram Nagar 3rd Street

Sriram Nagar 3rd Street guideline value

The current guideline value of Sriram Nagar 3rd 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. The land classification for this area is Residential Class I Type - III.

How the guideline value of Sriram Nagar 3rd Street has changed

Looking at the historical revisions, the guideline value for Sriram Nagar 3rd Street was Rs 804 per sq.ft in 2017. It then increased to Rs 1,200 per sq.ft in 2012, followed by a further increase to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 saw the value rise to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value rose by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai village, 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. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that the 2024 figure for Sriram Nagar 3rd Street is below this median.

• Sriram Nagar 2nd 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)
• Sriram Nagar 1st Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar 3rd 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, resulting in a total of Rs 1,18,800. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sriram Nagar 3rd Street?

The Sub Registrar Office that covers Sriram Nagar 3rd Street is 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that all parties are aware of the financial obligations involved.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sriram Nagar 3rd Street?

The current guideline value of Sriram Nagar 3rd 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 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, reflecting significant increases over the years with a notable 49% rise from 2017 to 2023.

What are the guideline values of other streets in Peerklankaranai?

Other streets in Peerklankaranai have a guideline value ranging from Rs 1,320 per sq.ft to Rs 4,400 per sq.ft, with the median value being Rs 1,650 per sq.ft.

What is the stamp duty rate for properties in Sriram Nagar 3rd Street?

The stamp duty rate for properties in Sriram Nagar 3rd Street is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Sriram Nagar 3rd Street?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.