Guideline Value for Sriram Nagar 6th Street

Sriram Nagar 6th Street guideline value

The current guideline value of Sriram Nagar 6th Street in Peerklankaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Sriram Nagar 6th Street has changed

The guideline value for Sriram Nagar 6th Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 804 per sq.ft. However, the value significantly increased in the following revisions, reaching Rs 1,200 per sq.ft in 2023, and then rising to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year. The overall change from 2012 to 2024 reflects a 10% increase.

Between the revisions, the value increased by 49% from 2017 to 2023. The 2012 to 2017 revision saw a decrease of 33%. 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, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which means the 2024 figure for Sriram Nagar 6th Street is below that median.

• Sriram Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 7th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 8th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 2nd Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. 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 further calculations.

Which Sub Registrar Office covers Sriram Nagar 6th Street?

The Sriram Nagar 6th 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 more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Peerklankaranai. It serves as a benchmark for determining 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, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, thereby ensuring transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sriram Nagar 6th Street?

The current guideline value of Sriram Nagar 6th 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 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft. The guideline value for Sriram Nagar 6th Street is below this median.

What are the stamp duty and registration fees for properties in Sriram Nagar 6th Street?

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 SRO covers Sriram Nagar 6th Street?

The Tambaram Joint 1 Sub Registrar Office covers Sriram Nagar 6th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.