Guideline Value for SHRI NAGAR

Shri Nagar guideline value

The current guideline value of Shri Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024. This locality is situated in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Mixed Special Type - II.

How the guideline value of Shri Nagar has changed

The guideline value for Shri Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased dramatically to Rs 3,400 per sq.ft in 2012. However, this figure dropped to Rs 2,278 per sq.ft in 2017. Following this, the value rose to Rs 3,400 per sq.ft in 2023, and finally reached Rs 3,700 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 517%. The revisions for the years 2002 and 2003 have no figures listed for this street in the register.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Shri Nagar is above this median.

• Sivagangapuram: Rs 2,150 per sq.ft (2024)
• SHANMUGAPURAM Extension: Rs 1,500 per sq.ft (2024)
• Shanmugapuram: Rs 1,500 per sq.ft (2024)
• Shanmuganar Nagar: Rs 1,500 per sq.ft (2024)
• Shamuga Thottam Street: Rs 3,300 per sq.ft (2024)
• Sivaprakasam Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,700 per sq.ft, the guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, totaling Rs 3,33,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shri Nagar?

The Sub Registrar Office that covers Shri Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the official valuation of the property. This helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Shri Nagar?

The current guideline value of Shri Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 3,700 per sq.ft in 2024, marking an overall increase of 517%.

What are the stamp duty and registration fees for property in Shri Nagar?

For a property valued at Rs 37,00,000, the stamp duty would be Rs 2,59,000 and the registration fee would be Rs 74,000, totaling Rs 3,33,000.

Which Sub Registrar Office covers Shri Nagar?

The Thiruvottiyur Sub Registrar Office covers Shri Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value determined for properties in Thiruvottiyur?

The guideline value is determined by the Registration Department and is updated periodically based on various factors, including previous revisions and market conditions.