Guideline Value for Sriram Nagar 7th Street

Sriram Nagar 7th Street guideline value

The current guideline value for Sriram Nagar 7th 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 7th Street has changed

Looking at the historical revisions, the guideline value for Sriram Nagar 7th Street was Rs 804 per sq.ft in 2017, which increased to Rs 1,200 per sq.ft in 2012. The 2023 revision set the value at Rs 1,200 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,320 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, followed by a 10% rise from 2023 to 2024. Notably, the value decreased by 33% from 2012 to 2017. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that have 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 for Sriram Nagar 7th Street is below this median.

• Sriram Nagar 6th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 8th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 4th 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 7th 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, making the total cost for these fees Rs 1,18,800. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Sriram Nagar 7th Street?

Sriram Nagar 7th 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 in the registration process for property transactions in Peerklankaranai. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of property transactions. This ensures transparency and fairness in the registration process.

Frequently asked questions

What is the current guideline value of Sriram Nagar 7th Street?

The current guideline value of Sriram Nagar 7th 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 seen several revisions, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, a change of 10%. The value was Rs 804 per sq.ft in 2017.

What is the land classification for Sriram Nagar 7th Street?

Sriram Nagar 7th Street is classified as Residential Class I Type - III, indicating its designation for residential use within the area.

What are the registration fees for properties in Sriram Nagar 7th Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sriram Nagar 7th Street?

The Tambaram Joint 1 Sub Registrar Office, which covers Sriram Nagar 7th Street, is located at No.26, Mes Road, East Tambaram, Chennai-600059.