Guideline Value for SREEVARI NAGAR ANNEX

Sreevari Nagar Annex guideline value

The current guideline value of Sreevari Nagar Annex is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Thirumazhisai village under the Poonamallee SRO and is classified as Residential Class I Type - I.

How the guideline value of Sreevari Nagar Annex has changed

Over the years, the guideline value for Sreevari Nagar Annex has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and then to Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. Overall, when comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a guideline value for 2024, ranging from Rs 730 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Sreevari Nagar Annex's 2024 figure below that median.

• Sreevari Gardens Annex: Rs 1,650 per sq.ft (2024)
• Sreevari Nagar Phase I Annex II: Rs 1,210 per sq.ft (2024)
• Sreevari Nagar Phase - I Annex - III: Rs 1,650 per sq.ft (2024)
• Sreevari Nagar Phase - II: Rs 990 per sq.ft (2024)
• S.M. Nagar: Rs 1,320 per sq.ft (2024)
• Srinivasa nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sreevari Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sreevari Nagar Annex?

The Sub Registrar Office that covers Sreevari Nagar Annex is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumazhisai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value acts as a benchmark. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. This ensures that the government collects taxes based on the actual market transaction value.

Frequently asked questions

What is the current guideline value of Sreevari Nagar Annex?

The current guideline value of Sreevari Nagar Annex is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification of Sreevari Nagar Annex?

Sreevari Nagar Annex is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in Sreevari Nagar Annex?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 9,90,000, the stamp duty at 7% would be Rs 69,300.