Guideline Value for SRE NAGAR PART - I (CHEN)

Sre Nagar Part - I (Chen) guideline value

The current guideline value for Sre Nagar Part - I (Chen) is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Sengundram - 1 village under the Chengleput Joint II SRO, and it is classified as Residential Special Type - III.

How the guideline value of Sre Nagar Part - I (Chen) has changed

The guideline value for Sre Nagar Part - I (Chen) has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 has raised the value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is a modest increase of 10%. Notably, the increase from 2017 to 2023 was substantial at 49%, while the decrease from 2012 to 2017 was 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Sre Nagar Part - I (Chen) is above this median.

• Sree Nagar Part -III: Rs 1,100 per sq.ft (2024)
• Sree Nagar Part -II: Rs 1,100 per sq.ft (2024)
• Srialamelu Mangapuram Colony (Chen): Rs 1,100 per sq.ft (2024)
• Sree Gomathees Varar Nagar: Rs 770 per sq.ft (2024)
• Sree Gokulapuram Extn -3: Rs 1,100 per sq.ft (2024)
• Sree Gokulapuram Extn -2 (Chen): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sre Nagar Part - I (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, leading to a total cost of Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sre Nagar Part - I (Chen)?

The Sub Registrar Office that covers Sre Nagar Part - I (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor in property transactions in Sengundram - 1, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Sre Nagar Part - I (Chen)?

The current guideline value for Sre Nagar Part - I (Chen) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sre Nagar Part - I (Chen)?

Sre Nagar Part - I (Chen) is classified as Residential Special Type - III.

What is the registration office for Sre Nagar Part - I (Chen)?

The registration office for Sre Nagar Part - I (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated in Sre Nagar Part - I (Chen)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.