Guideline Value for SREEVARI NAGAR

Sreevari Nagar guideline value

The current guideline value of Sreevari Nagar, located in Kalavakkam village, is Rs 2,873 per sq.ft, effective from 1 July 2024. This area falls under the Thiruporur Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Sreevari Nagar has changed

The guideline value for Sreevari Nagar has seen several revisions over the years. The most recent revision in 2024 set the rate at Rs 2,873 per sq.ft, which is an increase from Rs 2,612 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the guideline value was Rs 1,750 per sq.ft, indicating a significant increase of 49% over the six years leading up to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The only available revisions are from 2017, 2023, and 2024.

Guideline values in Kalavakkam

In Kalavakkam, there are 27 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 1,816 to Rs 4,250 per sq.ft. The median value for these streets is Rs 2,463 per sq.ft, making Sreevari Nagar's 2024 figure of Rs 2,873 per sq.ft above the median.

• Shanti Park: Rs 1,816 per sq.ft (2024)
• Sri Nivasam Nagar: Rs 2,873 per sq.ft (2024)
• Village Poneiex Hodu Developers: Rs 2,200 per sq.ft (2024)
• Old Mamallapuram Salai (Omr): Rs 2,205 per sq.ft (2024)
• Nakshatra: Rs 1,925 per sq.ft (2024)
• Marg Savithanjana: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sreevari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,873 per sq.ft, the total guideline value amounts to Rs 28,73,000. The stamp duty at 7% would be Rs 2,01,110, and the registration fee at 2% would be Rs 57,460, bringing the total fees together to Rs 2,58,570. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sreevari Nagar?

Sreevari Nagar is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kalavakkam. It serves as a benchmark for determining the stamp duty and registration fees payable to the government, ensuring that the transaction is recorded at a fair value.

When you register a property, the guideline value helps in assessing the financial obligations associated with the sale, including stamp duty and registration fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sreevari Nagar?

The current guideline value of Sreevari Nagar is Rs 2,873 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,750 per sq.ft in 2017 to Rs 2,873 per sq.ft in 2024, marking a total increase of 64% over this period.

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

For a property valued at Rs 28,73,000, the stamp duty is Rs 2,01,110 and the registration fee is Rs 57,460, totaling Rs 2,58,570.

Which Sub Registrar Office covers Sreevari Nagar?

Sreevari Nagar falls under the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110.

What is the land classification for Sreevari Nagar?

Sreevari Nagar is classified as Mixed Type - I land, which influences its guideline value and usage regulations.