Guideline Value for SRI NAGAR

Sri Nagar guideline value

The current guideline value of Sri Nagar in Matthur village, under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Sri Nagar has changed

The guideline value for Sri Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,000 per sq.ft, followed by the latest revision in 2024, which raised it to Rs 1,100 per sq.ft. The register has no figure for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a remarkable 900%, while between 2012 and 2017, there was a decrease of 33%. Overall, from 2007 to 2024, the guideline value has risen by 1000%.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median being Rs 1,100 per sq.ft. The guideline value for Sri Nagar matches this median.

• Srinivasa Nagar: Rs 1,100 per sq.ft (2024)
• Siva Sakthi Nagar / Extn: Rs 1,100 per sq.ft (2024)
• Telecom Nagar: Rs 1,100 per sq.ft (2024)
• Thangavelu Mudaliyar Street: Rs 1,100 per sq.ft (2024)
• Thirumurugan Nagar: Rs 1,100 per sq.ft (2024)
• Thirumurugan Nagar Phase I: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to 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 more detailed calculations.

Which Sub Registrar Office covers Sri Nagar?

The Sri Nagar area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Matthur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Nagar?

The current guideline value of Sri Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 100 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1000% over this period.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 in fees.

Which Sub Registrar Office is responsible for Sri Nagar?

The Thiruvottiyur Sub Registrar Office covers Sri Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Sri Nagar?

Sri Nagar is classified as Residential Special Type - III, which indicates its suitability for residential development.