Guideline Value for SREEVARI NAGAR PHASE I ANNEX II

Sreevari Nagar Phase I Annex II guideline value

The current guideline value for Sreevari Nagar Phase I Annex II is Rs 1,210 per sq.ft. This property is located in Thirumazhisai village, under the Poonamallee SRO, classified as Residential Special Type - III.

How the guideline value of Sreevari Nagar Phase I Annex II has changed

The guideline value for Sreevari Nagar Phase I Annex II has seen several revisions over the years. In the 2017 revision, the guideline value was Rs 1,100 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the value to Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that have a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Sreevari Nagar Phase I Annex II is below this median.

• Sreevari Nagar Annex: Rs 990 per sq.ft (2024)
• Sreevari Nagar Phase - I Annex - III: Rs 1,650 per sq.ft (2024)
• Sreevari Gardens Annex: 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 Phase I Annex II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total cost for these fees to Rs 1,08,900. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sreevari Nagar Phase I Annex II?

The Sub Registrar Office covering Sreevari Nagar Phase I Annex II is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thirumazhisai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value for Sreevari Nagar Phase I Annex II?

The current guideline value for Sreevari Nagar Phase I Annex II is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2017 to Rs 1,210 per sq.ft in 2024, reflecting a 10% increase. There was no change in the value from 2017 to 2023.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sreevari Nagar Phase I Annex II?

The Poonamallee Sub Registrar Office covers Sreevari Nagar Phase I Annex II, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Sreevari Nagar Phase I Annex II?

Sreevari Nagar Phase I Annex II is classified as Residential Special Type - III, indicating its designated use within the locality.