Guideline Value for SRI DEVI NAGAR

Sri Devi Nagar guideline value

The current guideline value of Sri Devi Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Minjur village, under the Ponneri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Devi Nagar has changed

The guideline value for Sri Devi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 536 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the guideline value to Rs 880 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value experienced a substantial increase of 49%. Overall, from 2017 to 2024, there has been a total increase of 64%. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Sri Devi Nagar is above this median.

• Sri Haya Greevar Nagar: Rs 550 per sq.ft (2024)
• Sri Balaji Nagar: Rs 440 per sq.ft (2024)
• Sri Janakirathina Nagar: Rs 880 per sq.ft (2024)
• Sri Kamala Nagar: Rs 550 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 550 per sq.ft (2024)
• Sri Murali Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the 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 more details.

Which Sub Registrar Office covers Sri Devi Nagar?

Sri Devi Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration process of property transactions in Minjur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and helps in avoiding disputes related to property valuation during the registration process.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar?

The current guideline value of Sri Devi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, marking an overall increase of 64% during this period.

What are the stamp duty and registration fees for property in Sri Devi Nagar?

For a property valued at Rs 8,80,000, the stamp duty is Rs 61,600, and the registration fee is Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Sri Devi Nagar?

The Ponneri Sub Registrar Office covers Sri Devi Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification of Sri Devi Nagar?

Sri Devi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.