Guideline Value for S.R.S. Nagar Part-3

S.R.S. Nagar Part-3 guideline value

The current guideline value of S.R.S. Nagar Part-3 is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of S.R.S. Nagar Part-3 has changed

The guideline value for S.R.S. Nagar Part-3 has undergone several revisions over the years. The earliest recorded value was Rs 200 per sq.ft in 2007. This figure saw a significant increase to Rs 2,100 per sq.ft in 2012, marking a rise of 950%. However, it then decreased to Rs 1,407 per sq.ft in 2017, which is a drop of 33%. The value increased again to Rs 2,100 per sq.ft in 2023, and most recently, it has been revised to Rs 2,310 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1055%, highlighting the fluctuations in property valuation over the years.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with the median value being Rs 2,310 per sq.ft. The guideline value for S.R.S. Nagar Part-3 aligns with this median.

• S.R.S. Nagar Part - 2: Rs 2,310 per sq.ft (2024)
• S.R.S. Nagar: Rs 2,310 per sq.ft (2024)
• S.S. Avenue: Rs 1,650 per sq.ft (2024)
• Subadhra Theru: Rs 1,650 per sq.ft (2024)
• Subash Street: Rs 2,310 per sq.ft (2024)
• Subbammal Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.S. Nagar Part-3

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.R.S. Nagar Part-3?

The S.R.S. Nagar Part-3 area falls under the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of S.R.S. Nagar Part-3?

The current guideline value of S.R.S. Nagar Part-3 is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, showing an overall increase of 1055% over the years.

What are the stamp duty and registration fees for property in S.R.S. Nagar Part-3?

For a 1,000 sq.ft plot, the total guideline value is Rs 23,10,000, resulting in a stamp duty of Rs 1,61,700 and a registration fee of Rs 46,200, totaling Rs 2,07,900.

Which Sub Registrar Office serves S.R.S. Nagar Part-3?

The Padappai Sub Registrar Office serves S.R.S. Nagar Part-3, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the transaction is accurately recorded and the appropriate fees are collected.