Guideline Value for SRI SRINIVASA NAGAR

Sri Srinivasa Nagar guideline value

The current guideline value of Sri Srinivasa Nagar, located in Arungunam village under the Madurandakam SRO, is Rs 151 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Sri Srinivasa Nagar has changed

The guideline value for Sri Srinivasa Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 151 per sq.ft, which is a 1% increase from the 2023 revision of Rs 150 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 100 per sq.ft, marking a significant increase of 50% from the 2017 figure to the 2023 figure. The 2012 revision also had a guideline value of Rs 150 per sq.ft, which was a decrease of 33% from the 2017 revision.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by just 1%.

Guideline values in Arungunam

In Arungunam, there are seven streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft. The median value for these streets is Rs 100 per sq.ft, placing Sri Srinivasa Nagar's 2024 figure above that median.

• Sabthagiri Garden Phase II: Rs 100 per sq.ft (2024)
• Prakash Nagar: Rs 150 per sq.ft (2024)
• Iswariya Nagar: Rs 100 per sq.ft (2024)
• A.A.Avenue: Rs 100 per sq.ft (2024)
• "Priya Nagar": Rs 100 per sq.ft (2024)
• Sameera Terra Farms Phase-I (Sameera Green Field): Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Srinivasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 151 per sq.ft, the total guideline value amounts to Rs 1,51,000. The stamp duty at 7% would be Rs 10,570, and the registration fee at 2% would be Rs 3,020, making the total fees together Rs 13,590. 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 more details.

Which Sub Registrar Office covers Sri Srinivasa Nagar?

Sri Srinivasa Nagar falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Arungunam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the fees based on the higher value between the guideline and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Nagar?

The current guideline value of Sri Srinivasa Nagar is Rs 151 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2023 to Rs 151 per sq.ft in 2024. It was Rs 100 per sq.ft in 2017 and Rs 150 per sq.ft in 2012, showing a notable increase of 50% from 2017 to 2023.

What are the other streets in Arungunam and their guideline values?

Other streets in Arungunam include Sabthagiri Garden Phase II at Rs 100 per sq.ft, Prakash Nagar at Rs 150 per sq.ft, and Sameera Terra Farms Phase-I at Rs 500 per sq.ft, among others.

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

For a property valued at Rs 1,51,000 in Sri Srinivasa Nagar, the stamp duty would be Rs 10,570 and the registration fee would be Rs 3,020, totaling Rs 13,590.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.