Guideline Value for SRI MARI NAGAR

Sri Mari Nagar guideline value

The current guideline value of Sri Mari Nagar, located in Nandambakkam village under the Padappai Sub Registrar Office (SRO), is Rs 990 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Mari Nagar has changed

The guideline value for Sri Mari Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the latest revision in 2024 has raised it further to Rs 990 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, while there was a significant increase of 49% from 2017 to 2023. The value then rose by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of Sri Mari Nagar is above this median.

• Sri Mahalakshmi Nagar: Rs 720 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 880 per sq.ft (2024)
• Srinivasa Nagar: Rs 770 per sq.ft (2024)
• Sriperumbudur Kundrathur Road: Rs 990 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 770 per sq.ft (2024)
• Sridevi Nagar: Rs 720 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty, charged at 7%, would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, leading to a total cost of Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Mari Nagar?

Sri Mari Nagar is covered by 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 Nandambakkam

The guideline value is a crucial factor in the registration of property transactions in Nandambakkam. When buying or selling property, this value is used to determine the stamp duty and registration fees payable, ensuring that the transaction is documented accurately according to government regulations.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sri Mari Nagar?

The current guideline value of Sri Mari Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Sri Mari Nagar?

The land classification for Sri Mari Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

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

The Sub Registrar Office covering Sri Mari Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.