Guideline Value for S.R.S.Nagar

S.R.S.Nagar guideline value

The current guideline value of S.R.S.Nagar, located in Sirunallur village under the Madurandakam SRO, is Rs 102 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

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

The guideline value for S.R.S.Nagar has seen several revisions over the years. In 2007, the value was Rs 25 per sq.ft, which increased significantly to Rs 100 per sq.ft in 2012. However, it then decreased to Rs 67 per sq.ft in 2017. The 2023 revision set the value at Rs 100 per sq.ft, and the most recent 2024 revision raised it to Rs 102 per sq.ft, marking a 2% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 308%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Sirunallur

In Sirunallur, there are 16 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 175 per sq.ft. The guideline value for S.R.S.Nagar is below this median.

• Srm Nagar: Rs 120 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 150 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 102 per sq.ft (2024)
• Sri Saraswathi Nagar: Rs 200 per sq.ft (2024)
• Sri Lakshmi Narasimmar Nagar: Rs 200 per sq.ft (2024)
• Sma Nagar Part-II: Rs 100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value would be Rs 1,02,000. The stamp duty at 7% would be Rs 7,140, and the registration fee at 2% would be Rs 2,040, making the total charges Rs 9,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers S.R.S.Nagar 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 Sirunallur

The guideline value is a critical factor in property transactions in Sirunallur. It serves as the basis for calculating stamp duty and registration fees during the registration process, ensuring that the government receives its due revenue from property sales.

When buying or selling property, it is essential to consider the guideline value as it may affect the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable fees.

Frequently asked questions

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

The current guideline value of S.R.S.Nagar is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 25 per sq.ft in 2007 to Rs 102 per sq.ft in 2024, reflecting an overall increase of 308% over the years.

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

For a property valued at Rs 1,02,000, the stamp duty would be Rs 7,140, and the registration fee would be Rs 2,040, totaling Rs 9,180.

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

The Madurandakam Sub Registrar Office covers S.R.S.Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

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

S.R.S.Nagar falls under the Residential Class I Type - I land classification.