Guideline Value for S.R, Nagar

S.R, Nagar guideline value

The current guideline value of S.R, Nagar, located in Nanmangalam village under the Pallavaram SRO, is Rs 1,960 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

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

The guideline value for S.R, Nagar has undergone several revisions over the years. In 2002, the value was Rs 55 per sq.ft, which increased to Rs 90 per sq.ft in 2003. Following this, there was a significant jump to Rs 300 per sq.ft in 2007, and the value further escalated to Rs 1,800 per sq.ft in 2012. However, the value dropped to Rs 1,206 per sq.ft in 2017 before rising to Rs 1,800 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,960 per sq.ft.

Between these revisions, there were notable changes. The change from 2023 to 2024 was an increase of 9%. From 2017 to 2023, there was a significant rise of 49%. The value dropped by 33% from 2012 to 2017, while from 2007 to 2012, it surged by 500%. The increase from 2003 to 2007 was 233%, and from 2002 to 2003, it was 64%. Overall, from 2002 to 2024, the guideline value has increased by 3464%.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median of Rs 2,750 per sq.ft. The guideline value for S.R, Nagar is below this median.

• Sri Vigneshwara Avenue: Rs 2,750 per sq.ft (2024)
• Sri Sumathinath Residency: Rs 2,750 per sq.ft (2024)
• Sri Sathya Sai Nagar: Rs 1,960 per sq.ft (2024)
• Suseela Nagar Extension: Rs 2,750 per sq.ft (2024)
• Sriram Nagar: Rs 2,750 per sq.ft (2024)
• Sri Perumal Nagar: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, bringing the total to Rs 1,76,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for additional calculations.

Which Sub Registrar Office covers S.R, Nagar?

The Sub Registrar Office that covers S.R, Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is registered, the guideline value is used to calculate the applicable duties. It is essential to note that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of S.R, Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 55 per sq.ft in 2002 to Rs 1,960 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification of S.R, Nagar?

S.R, Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in S.R, Nagar?

The stamp duty for a property valued at Rs 19,60,000 is Rs 1,37,200, and the registration fee is Rs 39,200, totaling Rs 1,76,400.

Where is the Sub Registrar Office for S.R, Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.