Guideline Value for SRINIVASA NAGAR PHASE-I

Srinivasa Nagar Phase-I guideline value

The current guideline value of Srinivasa Nagar Phase-I is Rs 103 per sq.ft, effective from 1 July 2024. This area is located in Veeranakunnam village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Srinivasa Nagar Phase-I has changed

The guideline value for Srinivasa Nagar Phase-I has undergone several revisions over the years. In 2012, the guideline value was Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in 2017, marking a decline of 33%. However, this value saw a significant increase of 49% to Rs 100 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 103 per sq.ft, reflecting a 3% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 3%.

Guideline values in Veeranakunnam

In Veeranakunnam, nine streets under the Madurandakam SRO have a 2024 guideline value ranging from Rs 100 to Rs 103 per sq.ft, with the median value being Rs 103 per sq.ft. The guideline value for Srinivasa Nagar Phase-I is equal to this median.

• Srinivasa Nagar: Rs 103 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 103 per sq.ft (2024)
• Teachers Avenue: Rs 102 per sq.ft (2024)
• Sai Sakthi Garden: Rs 103 per sq.ft (2024)
• Royal Nagar: Rs 100 per sq.ft (2024)
• Real Value Developer In Royal Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, making the total cost for these fees Rs 9,270. 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 information.

Which Sub Registrar Office covers Srinivasa Nagar Phase-I?

The Madurandakam Sub Registrar Office covers Srinivasa Nagar Phase-I. The office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Veeranakunnam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar Phase-I?

The current guideline value of Srinivasa Nagar Phase-I is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What are the other streets in Veeranakunnam with their guideline values?

Other streets in Veeranakunnam include Sri Sai Baba Nagar, Teachers Avenue, Sai Sakthi Garden, Royal Nagar, and Real Value Developer In Royal Nagar, with values ranging from Rs 100 to Rs 103 per sq.ft.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles property registrations in Srinivasa Nagar Phase-I?

The Madurandakam Sub Registrar Office is responsible for property registrations in Srinivasa Nagar Phase-I, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.