Guideline Value for SHRIDHARAN V NAGAR

Shridharan V Nagar guideline value

The current guideline value of Shridharan V Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Shridharan V Nagar has changed

The guideline value for Shridharan V Nagar has seen significant changes over the years. In 2002, the value was Rs 86 per sq.ft, which increased to Rs 101 per sq.ft in 2003, marking a 17% rise. The value then surged dramatically to Rs 833 per sq.ft in 2007, representing a 725% increase. Following this, the value reached Rs 2,000 per sq.ft in 2012, a 140% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, reflecting a 33% drop. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 64% increase from 2017.

It is important to note that there is no figure available for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 2458%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Shridharan V Nagar's 2024 value above this median.

• Shri Balaji Nagar: Rs 1,320 per sq.ft (2024)
• Shri Ayya Nagar: Rs 1,320 per sq.ft (2024)
• Shri Angala Parameswari Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Shri Ganapathi Nagar: Rs 1,320 per sq.ft (2024)
• Shri Jaya Anjenayar Nagar: Rs 1,650 per sq.ft (2024)
• Shri Ambal Nagar /Extn: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Shridharan V Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Shridharan V Nagar?

The Sub Registrar Office that covers Shridharan V Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Pallikaranai, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the negotiated sale price.

Additionally, the guideline value helps maintain transparency in property transactions, making it easier for buyers and sellers to understand the costs involved. It serves as a benchmark for property valuation in the area, ensuring that all parties are aware of the minimum registration requirements.

Frequently asked questions

What is the current guideline value of Shridharan V Nagar?

The current guideline value of Shridharan V Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 86 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2458% over the years.

What are the stamp duty and registration fees for properties in Shridharan V Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Shridharan V Nagar?

The Chennai South Joint I Sub Registrar Office is responsible for Shridharan V Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Shridharan V Nagar?

Shridharan V Nagar is classified as Residential Class II Type - I.