Guideline Value for Sriram Nagar South 5th Street

Sriram Nagar South 5th Street guideline value

The current guideline value of Sriram Nagar South 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - III.

How the guideline value of Sriram Nagar South 5th Street has changed

The guideline value for Sriram Nagar South 5th Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year, 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Sriram Nagar South 5th Street's 2024 figure above that median.

• Sriram Nagar South 4th Street: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South 6th Street: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South 3rd Street: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South 2nd Street: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South 1st Street: Rs 3,300 per sq.ft (2024)
• Sri Ram Nagar (South): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar South 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sriram Nagar South 5th Street?

The Sriram Nagar South 5th Street falls under 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the official value set by the government. This helps maintain transparency and ensures that the appropriate taxes are collected based on the established rates.

Frequently asked questions

What is the current guideline value of Sriram Nagar South 5th Street?

The current guideline value of Sriram Nagar South 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Sriram Nagar South 5th Street?

Sriram Nagar South 5th Street is classified as Residential Special Type - III, indicating its suitability for residential purposes.

Where can I find the registration office for this street?

The registration office for Sriram Nagar South 5th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.