Guideline Value for Sriram Nagar

Sriram Nagar guideline value

The current guideline value of Sriram Nagar in Puthuper village, under the Sriperumpudur SRO, is Rs 300 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

Over the years, the guideline value for Sriram Nagar has seen several revisions. The earliest recorded value was Rs 50 per sq.ft in 2007, which increased significantly to Rs 300 per sq.ft in 2012. However, it then decreased to Rs 201 per sq.ft in 2017, before rising again to Rs 300 per sq.ft in both 2023 and the latest revision in 2024, reflecting no change between these two years.

The changes between these revisions show a notable increase of 49% from 2017 to 2023, while the value from 2012 to 2017 saw a decrease of 33%. The substantial rise from 2007 to 2012 was 500%. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Puthuper

Puthuper village has 39 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,350 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Sriram Nagar is below this median.

• Sri Mahalakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Ganapathy Garden: Rs 400 per sq.ft (2024)
• Sivashanmugam Nagar Annex-III: Rs 400 per sq.ft (2024)
• Sivashanmugam Nagar Annex: Rs 400 per sq.ft (2024)
• Sivashanmugam Nagar: Rs 400 per sq.ft (2024)
• Sekar Avenue: Rs 410 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sriram Nagar?

The Sub Registrar Office that covers Sriram Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, in the 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 Puthuper

The guideline value is a crucial factor during the registration process of property transactions in Puthuper. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps protect both buyers and sellers by establishing a standard value for properties in the area. This can help prevent underreporting of sale prices and ensure transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Sriram Nagar?

The current guideline value of Sriram Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 50 per sq.ft in 2007, reaching Rs 300 in 2012, then dropping to Rs 201 in 2017, and returning to Rs 300 in both 2023 and 2024.

What is the land classification for Sriram Nagar?

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

What are the stamp duty rates for property in Sriram Nagar?

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

Where is the Sub Registrar Office for Sriram Nagar located?

The Sub Registrar Office for Sriram Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, in the Chengalpattu registration zone.