Guideline Value for SRI SRINIVASA NAGAR

Sri Srinivasa Nagar guideline value

The current guideline value of Sri Srinivasa Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Koladi village, under the Chennai South Joint II SRO, and falls under Residential Class II Type - III land classification.

How the guideline value of Sri Srinivasa Nagar has changed

The guideline value for Sri Srinivasa Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, there was a decrease to Rs 402 per sq.ft in the 2017 revision. The subsequent revision in 2023 raised the value to Rs 600 per sq.ft, and the latest revision in 2024 further increased it to Rs 660 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 figure, there has been a significant increase of 120%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi, the guideline values for 175 streets under the Chennai South Joint II SRO range from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Sri Srinivasa Nagar is below this median.

• Sri Subbaaraam Avenue: Rs 1,105 per sq.ft (2024)
• Sri Subharam Avenue: Rs 1,105 per sq.ft (2024)
• Sri Vari Avenue: Rs 1,650 per sq.ft (2024)
• Sriram Nagar Extension: Rs 1,650 per sq.ft (2024)
• Swamy Natesanar Madam Street: Rs 660 per sq.ft (2024)
• Swamy Ramadasar Street: Rs 660 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, resulting in a total of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, 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 Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Koladi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must ensure that the sale price is not lower than the guideline value to avoid legal complications.

When a property is registered, the authorities will assess the guideline value to calculate the necessary fees. This ensures that the transaction is conducted transparently and fairly, adhering to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Nagar?

The current guideline value of Sri Srinivasa Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What are the guideline values for other streets in Koladi?

Other streets in Koladi have varying guideline values, ranging from Rs 660 to Rs 4,000 per sq.ft, with the median being Rs 1,100 per sq.ft.

What fees are applicable when registering property in Sri Srinivasa Nagar?

When registering property in Sri Srinivasa Nagar, the stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sri Srinivasa Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.