Guideline Value for Sriram Nagar Main Road

Sriram Nagar Main Road guideline value

The current guideline value of Sriram Nagar Main Road is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in 1. Nolambur village, under the Villivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Sriram Nagar Main Road has changed

The guideline value for Sriram Nagar Main Road has seen several revisions over the years. The most recent revision, effective from 1 July 2024, sets the value at Rs 7,100 per sq.ft, which is an increase of 9% from the 2023 revision of Rs 6,500 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 4,355 per sq.ft, marking a significant increase of 49% to the 2023 figure. The overall increase from the 2017 revision to the current 2024 revision is 63%.

The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only available revisions are from 2017, 2023, and 2024.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is equal to the current guideline value of Sriram Nagar Main Road.

• S.R.R. Nagar: Rs 7,100 per sq.ft (2024)
• Srigajalakshmi Nagar: Rs 3,700 per sq.ft (2024)
• Sudsen Gems Park: Rs 7,100 per sq.ft (2024)
• S & P Garden: Rs 7,100 per sq.ft (2024)
• Thattya Nagar: Rs 7,100 per sq.ft (2024)
• Tribuvan Flats: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty, charged at 7%, would be Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost for stamp duty and registration fee would be Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sriram Nagar Main Road?

The Sriram Nagar Main Road falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor when registering a property in 1. Nolambur. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sriram Nagar Main Road?

The current guideline value of Sriram Nagar Main Road is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 9%, from Rs 6,500 per sq.ft to Rs 7,100 per sq.ft.

What was the guideline value in 2017?

The guideline value for Sriram Nagar Main Road in 2017 was Rs 4,355 per sq.ft. This represents a significant increase to the current value.

Which Sub Registrar Office covers Sriram Nagar Main Road?

The Villivakkam Sub Registrar Office covers Sriram Nagar Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Sriram Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 4,97,000.