Guideline Value for Sriram Nagar

Sriram Nagar guideline value

The current guideline value of Sriram Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sriram Nagar has changed

Since the year 2002, the guideline value in Sriram Nagar has seen significant changes. In 2002, the guideline value was Rs 62 per sq.ft, which increased to Rs 328 per sq.ft in 2007, marking a change of +429%. The 2012 revision brought the value to Rs 1,500 per sq.ft, representing a substantial increase of +357%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, a drop of -33%. The guideline value remained at Rs 1,500 per sq.ft during the revisions in 2023 and 2024, indicating no change between these two years.

Overall, from 2002 to 2024, the guideline value has surged by +2,319%. The register has no figure for the year 2003 for this street.

Guideline values in Nandhivaram

Nandhivaram village has 169 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value of Sriram Nagar.

• Sri Ragavendra Colony: Rs 1,000 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 1,200 per sq.ft (2024)
• Sri Murugan Nagar: Rs 1,000 per sq.ft (2024)
• Sri Sangara Avenue: Rs 1,000 per sq.ft (2024)
• Sri Meenakshi Avenue: Rs 1,000 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extn 14th Cross St: 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 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total cost for these charges Rs 1,35,000. 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 the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sriram Nagar?

The Sriram Nagar area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Nandhivaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sriram Nagar?

The current guideline value of Sriram Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 62 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, representing an overall increase of +2,319%.

What are the other streets in Nandhivaram with their guideline values?

Other streets in Nandhivaram include Sri Ragavendra Colony at Rs 1,000 per sq.ft, Sri Sai Baba Nagar at Rs 1,200 per sq.ft, and several others, with the highest being Rs 1,500 per sq.ft for Sri Mahalakshmi Nagar Extn 14th Cross St.

What is the stamp duty rate for properties in Sriram Nagar?

The stamp duty rate for properties in Sriram Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.