Guideline Value for Sriram Nagar

Sriram Nagar guideline value

The current guideline value of Sriram Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - II.

How the guideline value of Sriram Nagar has changed

The guideline value for Sriram Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision brought the value up to Rs 1,500 per sq.ft, and the latest revision in 2024 has set it at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 1000%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Varadarajapuram

Varadarajapuram has a range of guideline values across its 250 streets, with values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which matches the guideline value of Sriram Nagar for 2024.

• Sri Ram Nagar Extn: Rs 1,650 per sq.ft (2024)
• Sri Parameshwari Nagar: Rs 1,650 per sq.ft (2024)
• Sri Sakthi Nagar Extension: Rs 1,980 per sq.ft (2024)
• Sri Sarveswari Nagar: Rs 1,650 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 1,650 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 990 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. 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 Sub Registrar Office that covers Sriram Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from transactions.

Frequently asked questions

What is the current guideline value of Sriram Nagar?

The current guideline value of Sriram Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the median guideline value in Varadarajapuram?

The median guideline value in Varadarajapuram is Rs 1,650 per sq.ft, which is the same as the guideline value for Sriram Nagar in 2024.

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

For a 1,000 sq.ft property, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500 based on the current guideline value.

Where is the Sub Registrar Office for Sriram Nagar located?

The Sub Registrar Office for Sriram Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.