Guideline Value for S.R.R. Nagar

S.R.R. Nagar guideline value

The current guideline value of S.R.R. Nagar, located in 1. Nolambur village under the Villivakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

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

The guideline value for S.R.R. Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 4,355 per sq.ft. This increased to Rs 6,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has set the value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the current guideline value of S.R.R. Nagar. Below are the guideline values for other streets in 1. Nolambur:

• Sudsen Gems Park: Rs 7,100 per sq.ft (2024)
• Sriram Nagar Main Road: Rs 7,100 per sq.ft (2024)
• Srigajalakshmi Nagar: Rs 3,700 per sq.ft (2024)
• Thattya Nagar: Rs 7,100 per sq.ft (2024)
• S & P Garden: Rs 7,100 per sq.ft (2024)
• Tribuvan Flats: Rs 7,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total cost for these fees Rs 6,39,000. It is important 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 information.

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

The Sub Registrar Office that covers S.R.R. Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role in property transactions in 1. Nolambur. It is used as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is considered alongside the sale price to determine the applicable fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

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

The current guideline value of S.R.R. Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 4,355 per sq.ft to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 63%.

What is the stamp duty rate for properties in S.R.R. Nagar?

The stamp duty rate for properties in S.R.R. Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What are the guideline values for other streets in 1. Nolambur?

Other streets in 1. Nolambur have varying guideline values, with some streets like Sudsen Gems Park and Sriram Nagar Main Road also valued at Rs 7,100 per sq.ft in 2024, while Srigajalakshmi Nagar is valued at Rs 3,700 per sq.ft.