Guideline Value for Sriram Nagar 5th Street

Sriram Nagar 5th Street guideline value

The current guideline value of Sriram Nagar 5th 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 is classified as Residential Class II Type - III.

How the guideline value of Sriram Nagar 5th Street has changed

The guideline value for Sriram Nagar 5th Street has undergone significant changes over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 2,345 per sq.ft. With the 2024 revision, the value increased to Rs 3,850 per sq.ft, marking a change of +64% from the 2017 figure. Notably, there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

In summary, the 2017 revision set the baseline at Rs 2,345 per sq.ft, which has now risen to Rs 3,850 per sq.ft in 2024. The absence of figures for the other years indicates that the guideline value has only been officially recorded in 2017 and 2024.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Sriram Nagar 5th Street's 2024 figure below this median.

• Sriram Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Sriram Nagar Colony: Rs 3,850 per sq.ft (2024)
• Sriram Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Sri Ram Nagar Ethiraj Street: Rs 4,400 per sq.ft (2024)
• Sriram Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Sriram Nagar 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar 5th 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 charges 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sriram Nagar 5th Street?

The Sub Registrar Office that covers Sriram Nagar 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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 the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value as it directly affects the financial aspects of the transaction, including the fees payable to the registration office.

Frequently asked questions

What is the current guideline value of Sriram Nagar 5th Street?

The current guideline value of Sriram Nagar 5th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value changed from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, representing a 64% increase.

Are there any years with no recorded guideline value for Sriram Nagar 5th Street?

Yes, the guideline value register has no figures for Sriram Nagar 5th Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the registration fee for property in Sriram Nagar 5th Street?

The registration fee for property is 2% of the guideline value. For example, for a property valued at Rs 38,50,000, the registration fee would be Rs 77,000.

Where is the Sub Registrar Office for Sriram Nagar 5th Street located?

The Sub Registrar Office for Sriram Nagar 5th Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.