Guideline Value for S.R.G.D NAGAR PHASE-II

S.R.G.D Nagar Phase-II guideline value

The current guideline value of S.R.G.D Nagar Phase-II is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Silavattam village, under the Madurandakam SRO, and is classified as Residential Special Type - II.

How the guideline value of S.R.G.D Nagar Phase-II has changed

Over the years, the guideline value of S.R.G.D Nagar Phase-II has undergone several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft, which was maintained in the 2024 revision, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Silavattam

In Silavattam, there are six streets under the Madurandakam SRO that have a 2024 guideline value, ranging from Rs 200 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 302 per sq.ft, placing S.R.G.D Nagar Phase-II below this median.

• Sri Veeraraghava Nagar Phase - I: Rs 200 per sq.ft (2024)
• New Lakshmi Nagar: Rs 302 per sq.ft (2024)
• J.J.Nagar: Rs 400 per sq.ft (2024)
• Aasai Nagar Phase - V: Rs 302 per sq.ft (2024)
• "sri Veeraragava Nagar": Rs 301 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.G.D Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers S.R.G.D Nagar Phase-II?

The Sub Registrar Office covering S.R.G.D Nagar Phase-II 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Silavattam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the official rates set by the government.

Frequently asked questions

What is the current guideline value of S.R.G.D Nagar Phase-II?

The current guideline value of S.R.G.D Nagar Phase-II is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2014, dropped to Rs 134 per sq.ft in 2017, and then returned to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification for S.R.G.D Nagar Phase-II?

S.R.G.D Nagar Phase-II is classified as Residential Special Type - II, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for S.R.G.D Nagar Phase-II?

The Sub Registrar Office for S.R.G.D Nagar Phase-II is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in S.R.G.D Nagar Phase-II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 18,000 in stamp duty and registration fees combined.