Guideline Value for SRI DIVYA NAGAR

Sri Divya Nagar guideline value

The current guideline value of Sri Divya Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under Chithapakkam village and is classified as Residential Class I Type - I, with the Salavakkam SRO overseeing its registration.

How the guideline value of Sri Divya Nagar has changed

The guideline value for Sri Divya Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 100 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision set the value at Rs 40 per sq.ft, marking a significant increase of 150% from 2017 to 2023. The 2012 revision had a guideline value of Rs 60 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 67%.

Guideline values in Chithapakkam

In addition to Sri Divya Nagar, there are other streets in Chithapakkam under the Salavakkam SRO. The guideline values for these streets are as follows:

• Sri Mahalakshmi Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Divya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Divya Nagar?

The Salavakkam Sub Registrar Office covers Sri Divya Nagar. The office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Sri Divya Nagar and the surrounding areas. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Divya Nagar?

The current guideline value of Sri Divya Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 60 per sq.ft to Rs 100 per sq.ft in 2024, reflecting an overall increase of 67%.

What is the stamp duty rate for properties in Sri Divya Nagar?

The stamp duty rate for properties in Sri Divya Nagar is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Sri Divya Nagar?

The registration fee for properties in Sri Divya Nagar is 2% of the guideline value or the sale price, whichever is higher.

Where is the Salavakkam Sub Registrar Office located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.