Guideline Value for SRI SRINIVASA NAGAR

Sri Srinivasa Nagar guideline value

The current guideline value of Sri Srinivasa Nagar is Rs 1,050 per sq.ft, effective from 1 July 2024. This area is located in Nemam village and falls under the Avadi SRO. The land classification for this street is Residential Class IV Type - III.

How the guideline value of Sri Srinivasa Nagar has changed

According to the guideline value register, there are no recorded figures for Sri Srinivasa Nagar in the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that the guideline value was Rs 1,050 per sq.ft for both the 2023 and 2024 revisions, indicating no change between these two years.

The 2024 revision, effective from 1 July 2024, maintains the guideline value at Rs 1,050 per sq.ft, the same as the previous year. This consistency in the guideline value suggests stability for this street within the current regulatory framework.

Guideline values in Nemam

In Nemam, there are 14 streets under the Avadi SRO that have a guideline value for 2024, ranging from Rs 330 to Rs 1,590 per sq.ft. The median guideline value in this area is Rs 740 per sq.ft, placing Sri Srinivasa Nagar's 2024 figure above this median.

• Surya Garden: Rs 551 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 440 per sq.ft (2024)
• Rajalakshmi Enclave Phase - II: Rs 550 per sq.ft (2024)
• Rajalakshmi Enclave Phase I: Rs 360 per sq.ft (2024)
• Radha Nagar: Rs 710 per sq.ft (2024)
• Ms Smart City: Rs 770 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 1,050 per sq.ft, the total guideline value would be Rs 10,50,000. The stamp duty at 7% would amount to Rs 73,500, and the registration fee at 2% would be Rs 21,000, bringing the total fees together to Rs 94,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Srinivasa Nagar?

The Sub Registrar Office that covers Sri Srinivasa Nagar is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Nemam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Nagar?

The current guideline value of Sri Srinivasa Nagar is Rs 1,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Srinivasa Nagar has remained at Rs 1,050 per sq.ft for both the 2023 and 2024 revisions. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Sri Srinivasa Nagar?

Sri Srinivasa Nagar is classified as Residential Class IV Type - III. This classification is important for understanding the zoning and permissible uses of the land.

What are the stamp duty rates applicable in Sri Srinivasa Nagar?

The stamp duty rate applicable in Sri Srinivasa Nagar is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.

Where can I find the Sub Registrar Office for Sri Srinivasa Nagar?

The Avadi Sub Registrar Office covers Sri Srinivasa Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.