Guideline Value for SRI RISHAB NAGAR

Sri Rishab Nagar guideline value

The current guideline value of Sri Rishab Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Karumbur village under the Chengleput Joint II SRO, and the land classification is Mixed Special Type - II.

How the guideline value of Sri Rishab Nagar has changed

The guideline value for Sri Rishab Nagar has remained consistent at Rs 600 per sq.ft from the 2023 revision to the 2024 revision, reflecting a change of +0%. Prior to this, the register has no figure for this street in the revisions from 2017, 2012, 2007, 2003, and 2002.

In the 2023 revision, the guideline value was also set at Rs 600 per sq.ft. This indicates that there has been no increase or decrease in the guideline value for this street over the last two years.

Guideline values in Karumbur

In Karumbur, there are 10 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 350 to Rs 600 per sq.ft, with a median value of Rs 501 per sq.ft. Sri Rishab Nagar's 2024 figure is above this median.

• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• V.G.P. Green Land: Rs 501 per sq.ft (2024)
• Jayamaruthi Puram: Rs 501 per sq.ft (2024)
• Goldan Royal: Rs 501 per sq.ft (2024)
• Balakirshnan Nagar: Rs 350 per sq.ft (2024)
• Balaji Nagar Phase-II: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Rishab Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Rishab Nagar?

The Sub Registrar Office covering Sri Rishab Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

When buying or selling property in Karumbur, the guideline value is a crucial factor as it determines the stamp duty and registration fees payable during the transaction. The guideline value serves as a benchmark for assessing the value of the property, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value in their respective areas, as it can affect the overall cost of purchasing or selling property. The guideline value is updated periodically, reflecting changes in the real estate market and local land classifications.

Frequently asked questions

What is the current guideline value of Sri Rishab Nagar?

The current guideline value of Sri Rishab Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Rishab Nagar has remained at Rs 600 per sq.ft since the 2023 revision, with no changes noted in previous revisions from 2017, 2012, 2007, 2003, and 2002.

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

The stamp duty for property in Sri Rishab Nagar is 7%, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 54,000 based on the current guideline value.

Which Sub Registrar Office covers Sri Rishab Nagar?

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

What is the land classification of Sri Rishab Nagar?

The land classification of Sri Rishab Nagar is Mixed Special Type - II, which is important for understanding the zoning and permissible uses of the land.