Guideline Value for SRI HARI NAGAR

Sri Hari Nagar guideline value

The current guideline value of Sri Hari Nagar is Rs 300 per sq.ft, as per the 2023 revision. This area falls under Pakkam village and is registered with the Tiruvallur Joint 1 SRO. The land classification for this locality is Residential Class III Type - I.

How the guideline value of Sri Hari Nagar has changed

Over the years, the guideline value of Sri Hari Nagar has seen several revisions. The 2012 revision set the guideline value at Rs 300 per sq.ft. However, in the 2017 revision, it decreased to Rs 201 per sq.ft, marking a decline of 33%. The most recent revision in 2023 saw the value rise again to Rs 300 per sq.ft, reflecting an increase of 49% from the 2017 figure.

Overall, comparing the figures from 2012 to 2023, there has been no change in the guideline value, remaining at Rs 300 per sq.ft. It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Pakkam

Currently, there are no specific village figures provided for Pakkam. Sri Hari Nagar is the only street mentioned under the Tiruvallur Joint 1 SRO, and no other streets in Pakkam are listed.

Stamp duty and registration fee for property in Sri Hari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, totaling Rs 21,000, while the registration fee is 2%, amounting to Rs 6,000. Therefore, the total cost for stamp duty and registration fees would be Rs 27,000. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Hari Nagar?

The Sri Hari Nagar area is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pakkam. It is used to determine the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value helps in establishing a legal framework for the transaction. It ensures that the government receives the appropriate taxes based on the property's value, thereby facilitating a transparent process for all parties involved.

Frequently asked questions

What is the current guideline value of Sri Hari Nagar?

The current guideline value of Sri Hari Nagar is Rs 300 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has remained at Rs 300 per sq.ft in 2023, with a decline to Rs 201 per sq.ft in 2017. The value increased by 49% from 2017 to 2023.

What is the land classification for Sri Hari Nagar?

Sri Hari Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

Where is the Tiruvallur Joint 1 SRO located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.

How are stamp duty and registration fees calculated in Sri Hari Nagar?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price of the property.