Guideline Value for Sriram Nagar South Street

Sriram Nagar South Street guideline value

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

How the guideline value of Sriram Nagar South Street has changed

Over the years, the guideline value for Sriram Nagar South Street has seen several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the value at Rs 13,000 per sq.ft. This was an increase of 10% from the previous value, bringing the 2024 guideline value to Rs 14,300 per sq.ft.

Comparing the revisions, the 2023 figure of Rs 13,000 per sq.ft was a significant change from the 2024 figure of Rs 14,300 per sq.ft. This increase reflects a 10% rise between the two revisions, indicating a shift in the guideline value for this street.

Guideline values in Mylapore Part 1

Mylapore Part 1 consists of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, making Sriram Nagar South Street's 2024 figure of Rs 14,300 per sq.ft significantly higher than the median.

• Sriram Nagar North 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 South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total 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, bringing the total costs together to Rs 12,87,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sriram Nagar South Street?

The Sriram Nagar South Street falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value for which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are compliant with the regulations set forth by the Registration Department.

Frequently asked questions

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

The current guideline value of Sriram Nagar South Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% increase.

What are the other streets with similar guideline values in Mylapore Part 1?

Other streets in Mylapore Part 1 with the same guideline value of Rs 14,300 per sq.ft include Sriram Nagar North Street and Sriram Nagar West Street.

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

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

How is the stamp duty calculated for properties in Mylapore Part 1?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 at a rate of 7%.