Guideline Value for Sriram Nagar

Sriram Nagar guideline value

The current guideline value of Sriram Nagar, located in Gooduvancheri village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sriram Nagar has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This figure remained unchanged in the 2023 revision, where it was also Rs 1,200 per sq.ft. With the 2024 revision, the guideline value has been set at Rs 1,200 per sq.ft, reflecting no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%, and overall, from 2017 to 2024, the increase remains the same at 49%. This indicates that the guideline value has stabilized at Rs 1,200 per sq.ft since 2023.

Guideline values in Gooduvancheri

Gooduvancheri village has a total of 129 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,500 per sq.ft, placing Sriram Nagar's 2024 figure below that median.

• Sri Rajeswari Nagar: Rs 1,200 per sq.ft (2024)
• Sri Sai Avenue: Rs 1,000 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 1,200 per sq.ft (2024)
• Srinu Prabhu Nagar: Rs 2,001 per sq.ft (2024)
• Srinivasapuram: Rs 2,001 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty is charged at 7%, totaling Rs 84,000, while the registration fee is charged at 2%, amounting to Rs 24,000. Together, the total cost for stamp duty and registration fee would be Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sriram Nagar?

The Sriram Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gooduvancheri. It determines the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sriram Nagar?

The current guideline value of Sriram Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Sriram Nagar has remained at Rs 1,200 per sq.ft from 2023 to 2024, with a 49% increase from Rs 804 per sq.ft in 2017 to 2023. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification for Sriram Nagar?

Sriram Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

How is the stamp duty calculated for properties in Sriram Nagar?

The stamp duty for properties in Sriram Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is charged on the guideline value.

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

The Gooduvancheri Sub Registrar Office covers Sriram Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.