Guideline Value for SRI RUDHRA NAGAR

Sri Rudhra Nagar guideline value

The current guideline value of Sri Rudhra Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village under the Thiruvottiyur SRO, classified as Residential Special Type - II.

How the guideline value of Sri Rudhra Nagar has changed

The guideline value for Sri Rudhra Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 50 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 201 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 300 per sq.ft in 2023, and most recently, it has increased to Rs 330 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, which is equal to the guideline value of Sri Rudhra Nagar.

• Sri Sairam Nagar: Rs 330 per sq.ft (2024)
• Sri Saravana Avenue: Rs 330 per sq.ft (2024)
• Sri Padmavathi Devi Nagar: Rs 330 per sq.ft (2024)
• Sri Venkatapuram: Rs 330 per sq.ft (2024)
• Sri Nagar: Rs 330 per sq.ft (2024)
• Sri Muthukumaraswamy Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Rudhra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty is charged at 7%, which totals Rs 23,100, while the registration fee is 2%, amounting to Rs 6,600. Together, the total cost for stamp duty and registration fee is Rs 29,700. 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 Rudhra Nagar?

The Sub Registrar Office that covers Sri Rudhra Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanthiambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair assessment of the property's worth.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Rudhra Nagar?

The current guideline value of Sri Rudhra Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 50 per sq.ft to Rs 330 per sq.ft in 2024, marking an overall increase of 560% across the revisions.

What is the land classification for Sri Rudhra Nagar?

Sri Rudhra Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Where is the Sub Registrar Office for Sri Rudhra Nagar located?

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