Guideline Value for Sriram Nagar Colony

Sriram Nagar Colony guideline value

The current guideline value of Sriram Nagar Colony in Velachery village, under the Velacheri SRO, is Rs 3,850 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Sriram Nagar Colony has changed

The guideline value for Sriram Nagar Colony has undergone several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 2,345 per sq.ft. The most recent revision in 2024 increased this value to Rs 3,850 per sq.ft, marking a significant increase of 64% from the 2017 figure.

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

Guideline values in Velachery

In Velachery, a total of 2,691 streets are listed 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, placing Sriram Nagar Colony's current value below this median.

• Sri Ram Nagar Ethiraj Street: Rs 4,400 per sq.ft (2024)
• Sriram Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Sriram Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Sri Ram Nagar Kandasamy Street: Rs 4,400 per sq.ft (2024)
• Sriram Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Sri Ram Nagar Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar Colony

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 cost for these fees to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Sriram Nagar Colony?

The Sriram Nagar Colony falls under 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 information.

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

The guideline value is a critical factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction and ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sriram Nagar Colony?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, representing a 64% increase.

Are there any years without recorded figures for Sriram Nagar Colony?

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

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, which is higher than the current guideline value of Sriram Nagar Colony.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.