Guideline Value for SRI VARI NAGAR PHASE-II

Sri Vari Nagar Phase-II guideline value

The current guideline value of Sri Vari Nagar Phase-II is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Phagalmedu village under the Arani_Tiruvallur SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Vari Nagar Phase-II has changed

The guideline value for Sri Vari Nagar Phase-II has undergone several revisions over the years. The 2017 revision set the value at Rs 201 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 300 per sq.ft. The most recent revision in 2024 confirmed the same rate of Rs 300 per sq.ft, indicating no percentage change from 2023 to 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase is also 49%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Phagalmedu

In Phagalmedu village, there are six streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 300 per sq.ft. The median value for these streets is Rs 275 per sq.ft, placing Sri Vari Nagar Phase-II above this median.

• Srivari Nagar Phase-1: Rs 300 per sq.ft (2024)
• Sri Venkatachalapathy Nagar: Rs 250 per sq.ft (2024)
• Thirumalai Nagar: Rs 250 per sq.ft (2024)
• Padmavathi Nagar: Rs 250 per sq.ft (2024)
• Kavitha Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vari Nagar Phase-II

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that 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 Vari Nagar Phase-II?

The Sub Registrar Office that covers Sri Vari Nagar Phase-II is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Phagalmedu. It serves as a benchmark for determining the stamp duty and registration fees payable to the government.

When a property transaction occurs, the guideline value is assessed to ensure that the appropriate fees are calculated based on either the guideline value or the actual sale price, whichever is higher. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Vari Nagar Phase-II?

The current guideline value of Sri Vari Nagar Phase-II is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, rising from Rs 201 per sq.ft to Rs 300 per sq.ft by 2024. There were no figures for the years 2002, 2003, 2007, and 2012 for this street.

What are the guideline values of other streets in Phagalmedu?

Other streets in Phagalmedu have varying guideline values, with rates ranging from Rs 250 to Rs 300 per sq.ft. The median for these streets is Rs 275 per sq.ft, making Sri Vari Nagar Phase-II's value above this median.

What are the stamp duty and registration fees for property in Sri Vari Nagar Phase-II?

For a 1,000 sq.ft plot, the guideline value is Rs 3,00,000. The stamp duty at 7% is Rs 21,000, and the registration fee at 2% is Rs 6,000, totaling Rs 27,000.

Where is the Sub Registrar Office for Sri Vari Nagar Phase-II located?

The Sub Registrar Office for Sri Vari Nagar Phase-II is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.