Guideline Value for SRI HAYAGREEVAR NAGAR

Sri Hayagreevar Nagar guideline value

The current guideline value of Sri Hayagreevar Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This locality is situated in Maiyur village under the Chengleput Joint II SRO, and the land classification is Mixed Type - II.

How the guideline value of Sri Hayagreevar Nagar has changed

The guideline value for Sri Hayagreevar Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 500 per sq.ft. This figure changed to Rs 335 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 700 per sq.ft, reflecting a rise of 109%. The current value remains unchanged from the 2023 revision, maintaining the rate of Rs 700 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 40%.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Sri Hayagreevar Nagar's 2024 figure above this median.

• Sri Ramanujar Nagar: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phase2: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phasei: Rs 500 per sq.ft (2024)
• Saroja Nagar: Rs 400 per sq.ft (2024)
• Ruby Garden Phase -II: Rs 401 per sq.ft (2024)
• Ruby Garden Phase -I: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Hayagreevar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. 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 Hayagreevar Nagar?

The Chengleput Joint II Sub Registrar Office covers Sri Hayagreevar Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a critical role in the property registration process in Maiyur. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sri Hayagreevar Nagar?

The current guideline value of Sri Hayagreevar Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023 and remained the same in 2024.

What are the other streets in Maiyur and their guideline values?

Other streets in Maiyur include Sri Ramanujar Nagar, Sri Vathsa Nagar Phase2, Sri Vathsa Nagar Phasei, Saroja Nagar, Ruby Garden Phase -II, and Ruby Garden Phase -I, with guideline values ranging from Rs 400 to Rs 500 per sq.ft.

What is the registration fee for property in Sri Hayagreevar Nagar?

The registration fee for property transactions in Sri Hayagreevar Nagar is calculated based on the guideline value or sale price. For example, for a property valued at Rs 7,00,000, the registration fee would be Rs 14,000 at 2%.

Where can I find the Sub Registrar Office for Sri Hayagreevar Nagar?

The Sub Registrar Office for Sri Hayagreevar Nagar is the Chengleput Joint II SRO, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.