Guideline Value for S.P.R. Nagar, Emarald Street

S.P.R. Nagar, Emarald Street guideline value

The current guideline value of S.P.R. Nagar, Emarald Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality falls under Madipakkam-1 village and is governed by the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of S.P.R. Nagar, Emarald Street has changed

The guideline value for S.P.R. Nagar, Emarald Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,000 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for S.P.R. Nagar, Emarald Street in the guideline value register. The most recent revision reflects the current valuation and is important for property transactions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this village is Rs 2,750 per sq.ft, placing S.P.R. Nagar, Emarald Street below this median.

• SPR Nagar: Rs 2,200 per sq.ft (2024)
• Sri Arulmurugan Nagar Extension: Rs 2,200 per sq.ft (2024)
• Sooda Mani Nagar: Rs 1,650 per sq.ft (2024)
• Sooda Main Nagar (Kubera Nagar Extn): Rs 2,200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 3,850 per sq.ft (2024)
• Sri Balaji Nagar/Kubera Nagar 10th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in S.P.R. Nagar, Emarald Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that 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 S.P.R. Nagar, Emarald Street?

The Sub Registrar Office that covers S.P.R. Nagar, Emarald Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO online.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps in determining the legal and financial obligations associated with the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of S.P.R. Nagar, Emarald Street?

The current guideline value of S.P.R. Nagar, Emarald Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Madipakkam-1?

The guideline values for other streets in Madipakkam-1 range from Rs 1,650 to Rs 5,500 per sq.ft, with S.P.R. Nagar below the median value of Rs 2,750 per sq.ft.

How is stamp duty calculated for property in S.P.R. Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for S.P.R. Nagar, Emarald Street.