Guideline Value for SRI NIVASAM NAGAR

Sri Nivasam Nagar guideline value

The current guideline value of Sri Nivasam Nagar is Rs 2,873 per sq.ft. This area is located in Kalavakkam village, under the Thiruporur SRO. The land classification for this street is Mixed Type - I.

How the guideline value of Sri Nivasam Nagar has changed

The guideline value for Sri Nivasam Nagar has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,612 per sq.ft. This figure increased to Rs 2,873 per sq.ft in the 2024 revision, marking a change of +10% from the previous year.

In summary, the guideline value has seen a significant increase from Rs 2,612 per sq.ft in 2023 to Rs 2,873 per sq.ft in 2024. This increase is reflective of the ongoing adjustments made within the Thiruporur SRO to align with market conditions.

Guideline values in Kalavakkam

Kalavakkam has a total of 27 streets under the Thiruporur SRO that carry a guideline value for 2024, ranging from Rs 1,816 to Rs 4,250 per sq.ft. The median value for these streets is Rs 2,463 per sq.ft, and Sri Nivasam Nagar's 2024 figure of Rs 2,873 per sq.ft is above this median.

• Sreevari Nagar: Rs 2,873 per sq.ft (2024)
• Shanti Park: Rs 1,816 per sq.ft (2024)
• Village Poneiex Hodu Developers: Rs 2,200 per sq.ft (2024)
• Old Mamallapuram Salai (Omr): Rs 2,205 per sq.ft (2024)
• Nakshatra: Rs 1,925 per sq.ft (2024)
• Marg Savithanjana: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nivasam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,873 per sq.ft, the total guideline value would be Rs 28,73,000. The stamp duty at 7% would amount to Rs 2,01,110, and the registration fee at 2% would be Rs 57,460, bringing the total fees to Rs 2,58,570. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Sri Nivasam Nagar?

The Sub Registrar Office that covers Sri Nivasam Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kalavakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated fairly based on the official valuation.

Frequently asked questions

What is the current guideline value of Sri Nivasam Nagar?

The current guideline value of Sri Nivasam Nagar is Rs 2,873 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value for Sri Nivasam Nagar was Rs 2,612 per sq.ft in 2023 and increased to Rs 2,873 per sq.ft in 2024, reflecting a change of +10%.

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

The stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 28,73,000, the total fees would be Rs 2,58,570.

Which office handles registrations for Sri Nivasam Nagar?

The Thiruporur Sub Registrar Office handles registrations for Sri Nivasam Nagar, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu zone.

How does the guideline value affect property transactions in Kalavakkam?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the fees are based on an official valuation rather than the sale price alone.