Guideline Value for Sriram Nagar

Sriram Nagar guideline value

The current guideline value of Sriram Nagar, located in Mannivakkam village, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the jurisdiction of the Gooduvancheri SRO and is classified as Residential Special Type - III.

How the guideline value of Sriram Nagar has changed

The guideline value of Sriram Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 302 per sq.ft, which saw a significant increase to Rs 1,200 per sq.ft in 2012, marking a rise of 297%. However, this value decreased to Rs 804 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then increased to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,320 per sq.ft in 2024, a change of 10%.

Notably, the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 337%.

Guideline values in Mannivakkam

Mannivakkam has a total of 118 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, placing Sriram Nagar's 2024 figure above this median.

• Sri Sai Nagar: Rs 990 per sq.ft (2024)
• Sri Sai Nagar Extension-I: Rs 4,110 per sq.ft (2024)
• Sri Sai Nagar Extension -II: Rs 4,110 per sq.ft (2024)
• Sri Sai Nagar Extension-III: Rs 4,110 per sq.ft (2024)
• Sri Sai Nagar Extension IV: Rs 4,110 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using 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, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Mannivakkam. It serves as a benchmark for determining 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 compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sriram Nagar?

The current guideline value of Sriram Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 302 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 337% over these years.

What is the land classification for Sriram Nagar?

Sriram Nagar is classified as Residential Special Type - III, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in Sriram Nagar?

For a property valued at Rs 13,20,000, the total stamp duty and registration fees would amount to Rs 1,18,800, based on the current guideline value.

Which office handles registrations for Sriram Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Sriram Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202.