Guideline Value for SRINIVASA NAGAR PART-3

Srinivasa Nagar Part-3 guideline value

The current guideline value of Srinivasa Nagar Part-3 is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Thirukkachur - 1 village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar Part-3 has changed

The guideline value for Srinivasa Nagar Part-3 has undergone several revisions over the years. The earliest recorded revision available is from 2012, where the guideline value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. The value then increased significantly to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft. The median guideline value in this village is Rs 660 per sq.ft, which is equal to the current guideline value of Srinivasa Nagar Part-3.

• Srinivasa Nagar Part-1: Rs 660 per sq.ft (2024)
• Srinivasa Nagar Part - IV: Rs 660 per sq.ft (2024)
• Sri Iyyappa Nagar: Rs 550 per sq.ft (2024)
• South Mada Veedhi: Rs 550 per sq.ft (2024)
• Thirukatchur Mainroad: Rs 880 per sq.ft (2024)
• Thirukatchur Periyar Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Part-3

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important 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 Srinivasa Nagar Part-3?

The Sub Registrar Office that covers Srinivasa Nagar Part-3 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value is a critical factor in the registration process of property transactions in Thirukkachur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price to ensure transparency in property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar Part-3?

The current guideline value of Srinivasa Nagar Part-3 is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with notable changes in between, including a decrease to Rs 402 per sq.ft in 2017 and an increase to Rs 600 per sq.ft in 2023.

What is the land classification of Srinivasa Nagar Part-3?

Srinivasa Nagar Part-3 is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Srinivasa Nagar Part-3?

The Sub Registrar Office for Srinivasa Nagar Part-3 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at a guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000, leading to specific fees based on this value.