Guideline Value for SRI NAGAR 4TH STREET

Sri Nagar 4th Street guideline value

The current guideline value of Sri Nagar 4th Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Sri Nagar 4th Street has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the 2024 revision, rising to Rs 1,320 per sq.ft, which is an increase of 64% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,650 per sq.ft, placing the 2024 guideline value of Sri Nagar 4th Street below this median.

• Sri Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Sri Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Sri Nagar 3rd Main Road: Rs 1,110 per sq.ft (2024)
• Sri Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Sri Nagar 2nd Main Road: Rs 1,110 per sq.ft (2024)
• Sri Nagar 1 St Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar 4th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,20,000. The stamp duty at 7% amounts to Rs 92,400, and the registration fee at 2% is Rs 26,400, totaling Rs 1,18,800. 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 Nagar 4th Street?

The Sub Registrar Office that covers Sri Nagar 4th Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is taken into account for calculating the applicable duties and fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Sri Nagar 4th Street?

The current guideline value of Sri Nagar 4th Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sri Nagar 4th Street?

Sri Nagar 4th Street is classified as Residential Class IV Type - II.

Where can I find the registration office for property transactions?

The registration office for property transactions in this area is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Sri Nagar 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,18,800.