Guideline Value for SRI VIRUSHNI NAGAR

Sri Virushni Nagar guideline value

The current guideline value of Sri Virushni Nagar is Rs 2,740 per sq.ft, effective from 1 July 2024. This locality is situated in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Virushni Nagar has changed

Over the years, the guideline value of Sri Virushni Nagar has undergone significant changes. The earliest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This value saw a remarkable increase to Rs 2,500 per sq.ft in 2012, marking a change of +1150%. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of -33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,740 per sq.ft in 2024, representing a +10% change.

In summary, from 2017 to 2023, the value increased by +49%. Overall, from the 2007 figure to the 2024 figure, there has been an increase of +1270%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Sri Virushni Nagar's 2024 figure above this median.

• Sri Vishnu nagar: Rs 2,200 per sq.ft (2024)
• Sri Vigneswara Nagar: Rs 2,200 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 2,200 per sq.ft (2024)
• Sri Shrinivasa nagar 536,537,538: Rs 2,200 per sq.ft (2024)
• Sumithra nagar: Rs 2,200 per sq.ft (2024)
• Sri Rajeswari nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Virushni Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value would be Rs 27,40,000. The stamp duty at 7% would amount to Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, bringing the total cost together to Rs 2,46,600. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Virushni Nagar?

The Sub Registrar Office covering Sri Virushni Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Poonthamallee, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions. Therefore, understanding the guideline value is essential for anyone looking to engage in real estate transactions in this area.

Frequently asked questions

What is the current guideline value of Sri Virushni Nagar?

The current guideline value of Sri Virushni Nagar is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 200 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of Sri Virushni Nagar?

Sri Virushni Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates in Sri Virushni Nagar?

The stamp duty rate for property transactions in Sri Virushni Nagar is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Sri Virushni Nagar located?

The Sub Registrar Office for Sri Virushni Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.