Guideline Value for SRI NAGAR

Sri Nagar guideline value

The current guideline value of Sri Nagar, located in Goodaloor village under the Chengleput Joint II SRO, is Rs 825 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Nagar has changed

The guideline value for Sri Nagar has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 750 per sq.ft, which was then increased to Rs 825 per sq.ft in the 2024 revision, marking a change of +10%.

In summary, the guideline value has increased from Rs 750 per sq.ft in 2023 to Rs 825 per sq.ft in 2024. This increase reflects the current valuation as per the latest revision.

Guideline values in Goodaloor

Goodaloor village has a total of 53 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 385 to Rs 2,510 per sq.ft. The median guideline value in this area is Rs 660 per sq.ft, placing Sri Nagar's 2024 figure above that median.

• Sri Ayya Nagar (Kod): Rs 660 per sq.ft (2024)
• Sri Aathilakshmi Nagar (Ward -9): Rs 660 per sq.ft (2024)
• Sundarapuram Kalivanthapattu (Ward -9): Rs 550 per sq.ft (2024)
• Shree Nagar Extn (Ward -9): Rs 825 per sq.ft (2024)
• Shanthi Nagar (Kod): Rs 660 per sq.ft (2024)
• Tank Street (Ward -9): Rs 550 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 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total charges to Rs 74,250. 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 Nagar?

The Sub Registrar Office that covers Sri Nagar is 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 Goodaloor

The guideline value is a crucial factor when registering property transactions in Goodaloor. It serves as a benchmark for determining the minimum value for stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value must be considered, as it directly impacts the costs involved in the registration process. Buyers should be aware of the current guideline value to avoid any surprises during the registration of their property.

Frequently asked questions

What is the current guideline value of Sri Nagar?

The current guideline value of Sri Nagar is Rs 825 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Nagar has changed from Rs 750 per sq.ft in 2023 to Rs 825 per sq.ft in 2024, reflecting a +10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Goodaloor?

The median guideline value in Goodaloor is Rs 660 per sq.ft. Sri Nagar's 2024 figure of Rs 825 per sq.ft is above this median.

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

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Sri Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Sri Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.