Guideline Value for SRI SARVESWARI NAGAR

Sri Sarveswari Nagar guideline value

The current guideline value of Sri Sarveswari Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Sarveswari Nagar has changed

Since the 2017 revision, the guideline value for Sri Sarveswari Nagar has seen significant increases. The 2017 revision set the value at Rs 1,005 per sq.ft, which rose to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 further increased the value by 10% to Rs 1,650 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sri Sarveswari Nagar.

• Sri Sakthi Nagar Extension: Rs 1,980 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 990 per sq.ft (2024)
• Sri Ram Nagar Extn: Rs 1,650 per sq.ft (2024)
• Sri Vimal Nagar: Rs 1,650 per sq.ft (2024)
• Sriram Nagar: Rs 1,650 per sq.ft (2024)
• Sri Parameshwari Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sarveswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty is charged at 7%, which totals Rs 1,15,500, and the registration fee is at 2%, amounting to Rs 33,000. Together, the total cost for stamp duty and registration fee would be Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sarveswari Nagar?

The Sub Registrar Office that covers Sri Sarveswari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When selling a property, the guideline value helps establish a baseline for the sale price. It is essential for both buyers and sellers to understand the guideline value to ensure compliance with local regulations and to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Sri Sarveswari Nagar?

The current guideline value of Sri Sarveswari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 64% during this period.

What are the stamp duty rates for properties in Sri Sarveswari Nagar?

The stamp duty for properties in Sri Sarveswari Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What other streets have guideline values in Varadarajapuram?

Other streets in Varadarajapuram include Sri Sakthi Nagar Extension at Rs 1,980 per sq.ft, Sri Venkateswara Nagar at Rs 990 per sq.ft, and several others with a guideline value of Rs 1,650 per sq.ft.