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 2 village under the Chennai Central Joint I SRO, and the land classification is Residential Special Type - IV.

How the guideline value of Sriram Nagar South Street has changed

In the 2023 revision, the guideline value was Rs 13,000 per sq.ft. The increase from 2023 to 2024 is 10%, bringing the current value to Rs 14,300 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

As per the revisions available, the most recent change reflects a significant adjustment in the guideline value, moving from Rs 13,000 to Rs 14,300. The previous figures for the years listed are not available, indicating that this street has seen a notable increase in its valuation in the latest revision.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Sriram Nagar South Street is above this 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 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

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 2

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that are payable during the transaction process.

When buying or selling property in Mylapore Part 2, the guideline value must be considered to ensure compliance with local regulations. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

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 is the land classification for Sriram Nagar South Street?

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

Where can I find the registration office for Sriram Nagar South Street?

The registration office for Sriram Nagar South Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Sriram Nagar South Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 10,01,000 at a rate of 7%.