Guideline Value for SRI NAGAR2ND CROSS STREET

Sri Nagar2nd Cross Street guideline value

The current guideline value of Sri Nagar2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Nagar2nd Cross Street has changed

The guideline value for Sri Nagar2nd Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sri Nagar2nd Cross Street is equal to this median.

• Sri Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar: Rs 2,200 per sq.ft (2024)
• Sri Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Nagar2nd Cross Street?

The Sub Registrar Office that covers Sri Nagar2nd Cross Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is crucial during property transactions in Poonthamallee, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling a property, the guideline value serves as a benchmark for the transaction, ensuring that the property is not undervalued for registration purposes. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Sri Nagar2nd Cross Street?

The current guideline value for Sri Nagar2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in 2024.

What is the land classification for Sri Nagar2nd Cross Street?

Sri Nagar2nd Cross Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sri Nagar2nd Cross Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.