Guideline Value for Sriram Nagar 8th Street

Sriram Nagar 8th Street guideline value

The current guideline value of Sriram Nagar 8th 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 8th Street has changed

The guideline value for Sriram Nagar 8th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it again to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have 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 a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, which means that the value of Sriram Nagar 8th Street is below this median.

• Sriram Nagar 7th Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 6th 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 8th 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 cost for these fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sriram Nagar 8th Street?

The Sub Registrar Office covering Sriram Nagar 8th 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 during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. This helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sriram Nagar 8th Street?

The current guideline value of Sriram Nagar 8th 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 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sriram Nagar 8th Street?

Sriram Nagar 8th Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,18,800.

Which office registers properties in Sriram Nagar 8th Street?

The Tambaram Joint 1 Sub Registrar Office registers properties in Sriram Nagar 8th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.