Guideline Value for S.R.D. Nagar

S.R.D. Nagar guideline value

The current guideline value of S.R.D. Nagar, located in Malayambakkam village under the Kunrathur SRO, is Rs 935 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

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

Over the years, the guideline value for S.R.D. Nagar has seen significant changes. The 2007 revision recorded a value of Rs 250 per sq.ft, which increased dramatically to Rs 850 per sq.ft in 2012, marking a rise of 240%. However, the value then decreased to Rs 569 per sq.ft in 2017, a drop of 33%. The 2023 revision saw a substantial increase to Rs 850 per sq.ft, and the latest revision in 2024 raised it to Rs 935 per sq.ft, reflecting a 10% increase.

In summary, from the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 274%. It is noteworthy that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 450 to Rs 2,750 per sq.ft. The median value is Rs 935 per sq.ft, which is equal to the current guideline value of S.R.D. Nagar. Below are other streets in Malayambakkam:

• S.R.D. Royal City Annexe: Rs 935 per sq.ft (2024)
• S.M Nagar: Rs 935 per sq.ft (2024)
• Sri Boopathy Nagar: Rs 2,200 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 935 per sq.ft (2024)
• Sri Gayathiri Doctor's Enclave: Rs 880 per sq.ft (2024)
• Sri Janani Nagar: Rs 935 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total costs together to Rs 84,150. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.R.D. Nagar?

The S.R.D. Nagar area falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Malayambakkam. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

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

The current guideline value of S.R.D. Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 935 per sq.ft in 2024, reflecting an overall increase of 274% over the years.

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

For a 1,000 sq.ft property at the guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty would be Rs 65,450, and the registration fee would be Rs 18,700, totaling Rs 84,150.

Which Sub Registrar Office covers S.R.D. Nagar?

S.R.D. Nagar is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What other streets have similar guideline values in Malayambakkam?

Other streets in Malayambakkam with a guideline value of Rs 935 per sq.ft include S.R.D. Royal City Annexe, S.M Nagar, Sri Ganapathy Nagar, and Sri Janani Nagar.