Guideline Value for SRINATH NAGAR

Srinath Nagar guideline value

The current guideline value of Srinath Nagar, located in Nemilancheri village under the Avadi SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Srinath Nagar has changed

The guideline value for Srinath Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes in guideline value are significant. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 8%.

Guideline values in Nemilancheri

In Nemilancheri, there are 15 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 1,870 per sq.ft, with a median value of Rs 990 per sq.ft. Srinath Nagar's 2024 figure of Rs 1,300 per sq.ft is above this median.

• Srinath Nagar Extension II: Rs 1,100 per sq.ft (2024)
• Sri Devi Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Devi Nagar: Rs 660 per sq.ft (2024)
• Sri Vignesh Nagar: Rs 990 per sq.ft (2024)
• P Dot G Flora: Rs 1,300 per sq.ft (2024)
• Padmavathi Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Srinath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinath Nagar?

The Sub Registrar Office that covers Srinath Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Nemilancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the expected value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations based on these values.

Frequently asked questions

What is the current guideline value of Srinath Nagar?

The current guideline value of Srinath Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Srinath Nagar?

The land classification for Srinath Nagar is Residential Special Type - IV.

What are the stamp duty and registration fees for property in Srinath Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles property registration for Srinath Nagar?

The Avadi Sub Registrar Office handles property registration for Srinath Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.