Guideline Value for SRI DURGA NAGAR

Sri Durga Nagar guideline value

The current guideline value of Sri Durga Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Durga Nagar has changed

The guideline value for Sri Durga Nagar has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 268 per sq.ft. This increased to Rs 400 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 440 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2024, the overall increase in the guideline value is 64%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Naduveerapattu

Naduveerapattu village has a total of 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft as per the 2024 revision. The median value for these streets is Rs 660 per sq.ft, indicating that the guideline value of Sri Durga Nagar is below this median.

• Sri Gayathri Co-Operative Mega Nagar: Rs 660 per sq.ft (2024)
• Sri Gayathri Mega Nagar: Rs 660 per sq.ft (2024)
• Sri Balaji Nagar: Rs 770 per sq.ft (2024)
• Sri Mega City M M Nagar - I, S.No.211/1a1a, 1a2a, 1a2b: Rs 550 per sq.ft (2024)
• Soosaiyappar Street: Rs 660 per sq.ft (2024)
• Sri Sabari Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Durga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, resulting in a total of Rs 39,600. 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 detailed calculations.

Which Sub Registrar Office covers Sri Durga Nagar?

The Sub Registrar Office covering Sri Durga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naduveerapattu. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Durga Nagar?

The current guideline value of Sri Durga Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, marking an overall increase of 64% during this period.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registrations in Sri Durga Nagar?

The Padappai Sub Registrar Office handles property registrations for Sri Durga Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is crucial in determining the stamp duty and registration fees during property transactions. It ensures that the fees are based on the actual value of the property being registered.