Guideline Value for SRI NAGAR

Sri Nagar guideline value

The current guideline value of Sri Nagar in Jeganathapuram village, under the Ponneri SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Nagar has changed

According to the register, the guideline value for Sri Nagar has undergone several revisions. The most recent revision in 2024 set the value at Rs 100 per sq.ft, a significant decrease from the 2023 revision, which was Rs 400 per sq.ft. The change from 2023 to 2024 represents a reduction of 75%.

Prior to the 2023 revision, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street. Therefore, only the 2024 and 2023 revisions provide the guideline values for Sri Nagar.

Guideline values in Jeganathapuram

In Jeganathapuram, there are 7 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,500 per sq.ft. The median value among these streets is Rs 100 per sq.ft, which is the same as the current guideline value for Sri Nagar.

• Sai Kirupa Nagar: Rs 100 per sq.ft (2024)
• Mars Royal City: Rs 1,000 per sq.ft (2024)
• Madhavan Nagar: Rs 100 per sq.ft (2024)
• Ganesh Nagar: Rs 100 per sq.ft (2024)
• Jayadev: Rs 1,500 per sq.ft (2024)
• Kshetra: Rs 1,493 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 100 per sq.ft, the total guideline value is Rs 1,00,000. The stamp duty, charged at 7%, amounts to Rs 7,000, while the registration fee at 2% is Rs 2,000. Together, the total cost for these fees is Rs 9,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Nagar?

The Sri Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Jeganathapuram. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to be aware of the guideline value as it directly impacts the overall cost of the transaction. Buyers should ensure they are informed about the current guideline values to avoid any surprises 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 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value for Sri Nagar decreased from Rs 400 per sq.ft in 2023 to Rs 100 per sq.ft in 2024, marking a reduction of 75%.

What is the land classification for Sri Nagar?

Sri Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee Rs 2,000.