Guideline Value for SRI VARU NAGAR

Sri Varu Nagar guideline value

The current guideline value of Sri Varu Nagar, located in Nayar village under the Ponneri SRO, is Rs 165 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Varu Nagar has changed

In the 2017 revision, the guideline value was Rs 100 per sq.ft. This figure increased significantly to Rs 150 per sq.ft in the 2023 revision, marking a 50% increase over six years. The current revision in 2024 shows a further increase to Rs 165 per sq.ft, which is a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nayar

In Nayar village, there are eight streets under the Ponneri SRO that carry a 2024 guideline value of Rs 165 per sq.ft. The median guideline value for these streets is also Rs 165 per sq.ft, placing Sri Varu Nagar at the same level as this median.

• Sri Balaji Nagar: Rs 165 per sq.ft (2024)
• Sabharis Garden -I: Rs 165 per sq.ft (2024)
• Green Park Avenue: Rs 165 per sq.ft (2024)
• Deepam Avenue: Rs 165 per sq.ft (2024)
• Bharathi Nagar Garden: Rs 165 per sq.ft (2024)
• Bharathi Nagar: Rs 165 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Varu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 165 per sq.ft, the total guideline value amounts to Rs 1,65,000. The stamp duty at 7% would be Rs 11,550, and the registration fee at 2% would be Rs 3,300, making the total cost for these fees Rs 14,850. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Varu Nagar?

The Sub Registrar Office that covers Sri Varu Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the taxes and fees associated with property transactions in Nayar. It is used to calculate stamp duty and registration fees, which are mandatory when registering property transactions.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Varu Nagar?

The current guideline value of Sri Varu Nagar is Rs 165 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 100 per sq.ft to Rs 165 per sq.ft, which is a total increase of 65% over the seven-year period.

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

For a property valued at Rs 1,65,000, the stamp duty would be Rs 11,550 and the registration fee would be Rs 3,300, totaling Rs 14,850 for these fees.

Which office handles property registrations for Sri Varu Nagar?

The Ponneri Sub Registrar Office handles property registrations for Sri Varu Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

Are there other streets in Nayar with the same guideline value?

Yes, there are several other streets in Nayar that also have a guideline value of Rs 165 per sq.ft for 2024, including Sri Balaji Nagar, Sabharis Garden -I, and others.