Guideline Value for Sriram Nagar 3rd Street

Sriram Nagar 3rd Street guideline value

The current guideline value of Sriram Nagar 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, and it falls under the Residential Class II Type - III land classification.

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

The guideline value for Sriram Nagar 3rd Street has undergone revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is a significant increase from Rs 2,345 per sq.ft during the 2017 revision. This change represents a rise of 64% from the previous figure.

It is important to note that there are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. The only available figures are from the 2017 and 2024 revisions.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO with the 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, indicating that Sriram Nagar 3rd Street's 2024 figure is below that median.

• Sriram Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Sriram Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Sriram Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Sriram Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sriram Nagar Colony: Rs 3,850 per sq.ft (2024)
• Sri Ram Nagar Ethiraj Street: Rs 4,400 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sriram Nagar 3rd Street?

The Sriram Nagar 3rd Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the transaction process. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

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 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft, reflecting a change of 64%.

Are there any years with no guideline value recorded for this street?

Yes, there are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for Sriram Nagar 3rd Street.

What is the registration office for Sriram Nagar 3rd Street?

The registration office for Sriram Nagar 3rd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Sriram Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.