Guideline Value for Sriram Society Nagar

Sriram Society Nagar guideline value

The current guideline value of Sriram Society Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Puthupattu village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Sriram Society Nagar has changed

In the 2007 revision, the guideline value was Rs 245 per sq.ft. It increased to Rs 250 per sq.ft in the 2012 revision, showing a slight increase of 2%. However, in the 2017 revision, there was a significant increase of 50%, raising the value to Rs 167 per sq.ft. The 2023 revision maintained the value at Rs 250 per sq.ft, and the same figure was retained in the 2024 revision, indicating no change from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has seen a modest increase of 2%.

Guideline values in Puthupattu

In Puthupattu, six streets under the Madurandakam SRO have a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with the median being Rs 250 per sq.ft. Sriram Society Nagar's 2024 figure aligns with this median.

• Rasi Nagar: Rs 100 per sq.ft (2024)
• Vijai Raja Nagar: Rs 250 per sq.ft (2024)
• Vijaj Raja Nagar: Rs 250 per sq.ft (2024)
• Giri Nagar: Rs 100 per sq.ft (2024)
• Vasanthi Gopalan Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sriram Society Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000. Together, these fees total Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Sriram Society Nagar?

The Sub Registrar Office that covers Sriram Society Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Puthupattu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the actual sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sriram Society Nagar?

The current guideline value of Sriram Society Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 250 per sq.ft, the same as in 2023. The value increased significantly from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What are the guideline values for other streets in Puthupattu?

In Puthupattu, other streets have varying guideline values ranging from Rs 100 to Rs 250 per sq.ft. Notably, Rasi Nagar has a value of Rs 100 per sq.ft, while Vijai Raja Nagar, Vijaj Raja Nagar, and Vasanthi Gopalan Nagar all have a value of Rs 250 per sq.ft.

What fees are associated with property transactions in Sriram Society Nagar?

For property transactions in Sriram Society Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 22,500.

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

The Madurandakam Sub Registrar Office covers Sriram Society Nagar and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.