Guideline Value for SRI VARI NAGAR

Sri Vari Nagar guideline value

The current guideline value of Sri Vari Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Periyapalayam village under the Arani_Tiruvallur SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Vari Nagar has changed

Looking at the historical revisions, the guideline value for Sri Vari Nagar has undergone several changes. The 2007 revision set the value at Rs 150 per sq.ft, which increased to Rs 200 per sq.ft in the 2012 revision. However, the 2017 revision saw a significant rise to Rs 134 per sq.ft, followed by a further increase to Rs 200 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figure for this street for the years 2002 and 2003.

From 2012 to 2017, there was a decrease of 33%, but the value rebounded to Rs 200 per sq.ft in the subsequent revisions up to 2024, showing no change from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 33%.

Guideline values in Periyapalayam

In Periyapalayam village, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 160 to Rs 600 per sq.ft, with the median value being Rs 200 per sq.ft. Sri Vari Nagar's 2024 figure aligns with this median.

• Sri Sakthi Avenue: Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 200 per sq.ft (2024)
• Thiruvallur Nagar: Rs 160 per sq.ft (2024)
• Thottakkara Street: Rs 200 per sq.ft (2024)
• Royal Diamond City: Rs 402 per sq.ft (2024)
• R.K. Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, and the registration fee, at 2%, would be Rs 4,000, bringing the total to Rs 18,000. 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 Vari Nagar?

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

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

When buying or selling property in Periyapalayam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value, ensuring that the transaction is registered at a fair value in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the cost of registration. This helps in ensuring compliance with the legal requirements during property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Vari Nagar?

The current guideline value of Sri Vari Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions in 2023 and 2024 both setting it at Rs 200 per sq.ft. The value increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and there was no change from 2023 to 2024.

What are the other guideline values in Periyapalayam?

In Periyapalayam, other streets have guideline values ranging from Rs 160 to Rs 600 per sq.ft. The median value for the area is Rs 200 per sq.ft, which is also the value for Sri Vari Nagar.

What are the fees associated with buying property in Sri Vari Nagar?

When purchasing property in Sri Vari Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 18,000.

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

The Sub Registrar Office for Sri Vari Nagar is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find more information about your SRO through the provided link.