Guideline Value for Sriram Nagar West Street

Sriram Nagar West Street guideline value

The current guideline value of Sriram Nagar West 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 it falls under the land classification of Residential Special Type - IV.

How the guideline value of Sriram Nagar West Street has changed

The guideline value for Sriram Nagar West Street has seen revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures are Rs 13,000 per sq.ft from the 2023 revision and Rs 14,300 per sq.ft from the 2024 revision, reflecting a change of +10% between these two years.

Prior to the 2023 revision, the last recorded figure was Rs 13,000 per sq.ft. The guideline value has increased from Rs 13,000 in 2023 to Rs 14,300 in 2024, marking a significant upward adjustment.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with guideline values 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 West Street is above this median.

• Sriram Nagar South Street: Rs 14,300 per sq.ft (2024)
• Sriram Nagar North 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 West 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sriram Nagar West Street?

The Sriram Nagar West 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 more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is an important factor during property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the taxes are calculated based on a standardized value, which helps maintain transparency in property transactions.

Frequently asked questions

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

The current guideline value of Sriram Nagar West 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, which is a change of +10%.

What is the land classification for Sriram Nagar West Street?

Sriram Nagar West Street falls under the land classification of Residential Special Type - IV.

Where can I find the Sub Registrar Office for this street?

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

How is the guideline value used for property transactions?

The guideline value is used to calculate the stamp duty and registration fees when buying or selling property. It ensures that these fees are based on a standardized value, promoting transparency in real estate transactions.