Guideline Value for SRI NAGAR

Sri Nagar guideline value

The current guideline value of Sri Nagar, located in Athur A Block village under the Chengleput Joint II SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Nagar has changed

The guideline value for Sri Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was also Rs 400 per sq.ft. However, the 2017 revision marked a significant increase from the previous figure of Rs 268 per sq.ft in 2017, reflecting a 49% rise. The 2023 revision also maintained the value at Rs 400 per sq.ft, and the 2024 revision has kept it the same, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Athur A Block

In Athur A Block, there are 44 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,525 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Sri Nagar is below this median.

• Srinivasa Avenue: Rs 500 per sq.ft (2024)
• Sri Malli Nathar Nagar: Rs 600 per sq.ft (2024)
• Sri Ragavandira Nagar: Rs 600 per sq.ft (2024)
• Sri Ram Nagar: Rs 800 per sq.ft (2024)
• Sri Ranga Nagar: Rs 1,525 per sq.ft (2024)
• Sri Balaji Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost to Rs 36,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Nagar?

Sri Nagar falls under the Chengleput Joint II Sub Registrar Office, 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 Athur A Block

The guideline value is a critical factor when registering property transactions in Athur A Block. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Nagar?

The current guideline value of Sri Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Nagar has seen several revisions, with the most recent being Rs 400 per sq.ft in both 2023 and 2024. It increased from Rs 268 per sq.ft in 2017 and remained at Rs 400 per sq.ft in 2012.

What is the land classification for Sri Nagar?

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

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Sri Nagar.

How is stamp duty calculated for properties in Sri Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.