Guideline Value for Sriram Nagar North Street

Sriram Nagar North Street guideline value

The current guideline value of Sriram Nagar North Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, with a land classification of Residential Special Type - IV.

How the guideline value of Sriram Nagar North Street has changed

The guideline value for Sriram Nagar North Street has seen significant changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 13,000 per sq.ft, which was an increase from the previous figures, leading to a 10% rise to the current value of Rs 14,300 per sq.ft in the 2024 revision.

This increase from Rs 13,000 to Rs 14,300 per sq.ft from 2023 to 2024 indicates a notable change in the guideline value. The 2024 figure is now above the median guideline value of Rs 8,800 per sq.ft for other streets in Mylapore Part 1.

Guideline values in Mylapore Part 1

Mylapore Part 1 comprises 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. Sriram Nagar North Street's 2024 figure of Rs 14,300 per sq.ft is above the median value.

• Sriram Nagar South Street: Rs 14,300 per sq.ft (2024)
• Sriram Nagar West Street: Rs 14,300 per sq.ft (2024)
• Srinivasa Perumal Sannathi Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi 3rd Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi 2nd Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi 1st Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar North Street

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sriram Nagar North Street?

The Sriram Nagar North Street is covered by the Chennai Central Joint I Sub Registrar Office located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor when registering property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which properties 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 helps both parties understand the value of the property in the eyes of the registration authorities. This ensures transparency in transactions and helps prevent undervaluation of properties during registration.

Frequently asked questions

What is the current guideline value of Sriram Nagar North Street?

The current guideline value of Sriram Nagar North Street is Rs 14,300 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 from Rs 13,000 per sq.ft to Rs 14,300 per sq.ft, marking a 10% rise.

What is the land classification for Sriram Nagar North Street?

The land classification for Sriram Nagar North Street is Residential Special Type - IV.

How does the guideline value compare to other streets in Mylapore Part 1?

Sriram Nagar North Street's guideline value of Rs 14,300 per sq.ft is above the median guideline value of Rs 8,800 per sq.ft for other streets in Mylapore Part 1.

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

The Sub Registrar Office covering Sriram Nagar North Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.