Guideline Value for S.R.P.NAGAR

S.R.P.Nagar guideline value

The current guideline value of S.R.P.Nagar, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

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

The guideline value for S.R.P.Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 46 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023 before reaching the current figure of Rs 1,700 per sq.ft in 2024.

Between these revisions, there have been notable changes. From 2003 to 2007, the guideline value increased by 335%. The value then surged by 650% from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value saw a substantial increase of 49% from 2017 to 2023. Finally, there was a 13% increase from 2023 to 2024. The register has no figure for the year 2002 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, making S.R.P.Nagar's 2024 figure equal to this median.

• Subash Chandra Bose Street: Rs 2,800 per sq.ft (2024)
• Sundaram Garden I: Rs 1,100 per sq.ft (2024)
• Sundaram Garden - II: Rs 3,300 per sq.ft (2024)
• Sundaram Garden III: Rs 3,300 per sq.ft (2024)
• Sundar Garden: Rs 1,000 per sq.ft (2024)
• Srinivasan Garden: Rs 1,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total charges Rs 1,53,000. It is important to note that 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 details.

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

The Sub Registrar Office that covers S.R.P.Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chemmancheri. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must be aware that the guideline value can influence the overall costs involved in property transactions.

When a property is registered, the guideline value serves as a benchmark for assessing the value of the property. It ensures that the transaction is recorded at a value recognized by the government, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value for S.R.P.Nagar?

The current guideline value for S.R.P.Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 46 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, with various revisions in between, including a notable increase of 650% from 2007 to 2012.

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

S.R.P.Nagar is classified as Residential Class IV Type - I, which indicates its designation for residential purposes.

Where can I find the Sub Registrar Office for S.R.P.Nagar?

The Sub Registrar Office for S.R.P.Nagar is located at Neelankarai Sub Registrar Office, 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.