Guideline Value for Dr.Srinivasan Nagar

Dr.Srinivasan Nagar guideline value

The current guideline value of Dr.Srinivasan Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This locality is situated in Karanaipuducheri village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Dr.Srinivasan Nagar has changed

Over the years, the guideline value of Dr.Srinivasan Nagar has seen several revisions. The earliest recorded revision is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, in 2017, the value decreased to Rs 469 per sq.ft, representing a decline of 33%. The value then rose again to Rs 700 per sq.ft in 2023, maintaining the same rate in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, but there was no change from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 250%. It is important to note that the register has no figure for this street in the years 2002 and 2003.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft, with a median value of Rs 802 per sq.ft. Dr.Srinivasan Nagar's 2024 guideline value is below this median.

• D.R.N Nagar: Rs 1,200 per sq.ft (2024)
• Durga Nagar: Rs 1,500 per sq.ft (2024)
• Dilshath Nagar: Rs 800 per sq.ft (2024)
• Dharsan Aalayam: Rs 1,200 per sq.ft (2024)
• Dhamodara Nagar: Rs 700 per sq.ft (2024)
• Devanshi Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Srinivasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total fees together Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr.Srinivasan Nagar?

The Sub Registrar Office that covers Dr.Srinivasan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Karanaipuducheri. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value ensures transparency and helps in assessing the appropriate stamp duty and registration fees.

During registration, the buyer and seller must agree on a sale price that meets or exceeds the guideline value. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government, based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Dr.Srinivasan Nagar?

The current guideline value of Dr.Srinivasan Nagar is Rs 700 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 200 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreasing to Rs 469 per sq.ft in 2017, and returning to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of Dr.Srinivasan Nagar?

The land classification for Dr.Srinivasan Nagar is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Dr.Srinivasan Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Dr.Srinivasan Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Dr.Srinivasan Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.