Guideline Value for SRI SAKRA NAGAR

Sri Sakra Nagar guideline value

The current guideline value of Sri Sakra Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under Meiyur village and is registered with the Avadi Sub Registrar Office. The land classification for this locality is Residential Class I Type - III.

How the guideline value of Sri Sakra Nagar has changed

The guideline value for Sri Sakra Nagar has undergone several revisions over the years. In the 2017 revision, the guideline value was set at Rs 67 per sq.ft. This figure increased to Rs 100 per sq.ft in the 2023 revision, marking a significant rise of 49%. The same value of Rs 100 per sq.ft has been maintained in the 2024 revision, reflecting no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Meiyur

Currently, there are no specific guideline values provided for other streets in Meiyur. Sri Sakra Nagar is the only street discussed in this context.

Stamp duty and registration fee for property in Sri Sakra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sakra Nagar?

Sri Sakra Nagar is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sri Sakra Nagar. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher of the guideline value and the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Sakra Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both the 2023 and 2024 revisions, reflecting a total increase of 49% from 2017 to 2024.

Are there any guideline values for other streets in Meiyur?

Currently, there are no specific guideline values provided for other streets in Meiyur. Only Sri Sakra Nagar is discussed in the context of guideline values.

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

For a property valued at Rs 1,00,000 in Sri Sakra Nagar, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Which office handles property registrations for Sri Sakra Nagar?

The Avadi Sub Registrar Office handles property registrations for Sri Sakra Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.