Guideline Value for SRI NAGAR EXTN

Sri Nagar Extn guideline value

The current guideline value of Sri Nagar Extn in Mitnamalle village, under the Avadi SRO, is Rs 804 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Sri Nagar Extn has changed

Over the years, the guideline value for Sri Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which then changed to Rs 268 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the latest revision in 2024 has raised it significantly to Rs 804 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 101% from 2023 to 2024. From 2017 to 2023, there was a 49% increase, while from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 101%.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 2,550 per sq.ft. The median value among these streets is Rs 802 per sq.ft, placing Sri Nagar Extn's 2024 figure above that median.

• Sri Nagar: Rs 802 per sq.ft (2024)
• Sri Krishna Nagar: Rs 802 per sq.ft (2024)
• Sri Ragavaa Nagar: Rs 802 per sq.ft (2024)
• Sri Ram Avenue: Rs 802 per sq.ft (2024)
• Sri Sapthagiri Nagar: Rs 808 per sq.ft (2024)
• Sri Arunachala Nagar: Rs 802 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 804 per sq.ft, the total guideline value would be Rs 8,04,000. The stamp duty at 7% would amount to Rs 56,280, and the registration fee at 2% would be Rs 16,080, bringing the total to Rs 72,360. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Nagar Extn?

The Sub Registrar Office that covers Sri Nagar Extn is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

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

When a property is registered, the guideline value is considered to ensure that the transaction is in compliance with the regulatory framework. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sri Nagar Extn?

The current guideline value of Sri Nagar Extn is Rs 804 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 804 per sq.ft in 2024.

What is the land classification for Sri Nagar Extn?

Sri Nagar Extn is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 8,04,000, the stamp duty would be Rs 56,280, and the registration fee would be Rs 16,080, totaling Rs 72,360.

Where is the Sub Registrar Office for Sri Nagar Extn located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.