Guideline Value for SRINIVASA NAGAR.

Srinivasa Nagar. guideline value

The current guideline value of Srinivasa Nagar. is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Mepur village under the Kunrathur SRO and is classified as Residential Class I Type - III.

How the guideline value of Srinivasa Nagar. has changed

The guideline value for Srinivasa Nagar. has undergone several revisions over the years. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. This figure remained unchanged until the 2023 revision, which also recorded Rs 500 per sq.ft. The most recent revision in 2024 saw an increase to Rs 550 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. Notably, there are no recorded figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Mepur

In Mepur village, there are 22 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,955 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Srinivasa Nagar. below this median.

• Sri Krishna Nagar: Rs 770 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,480 per sq.ft (2024)
• Sri Srinivasa Co-op Nagar: Rs 770 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 770 per sq.ft (2024)
• Sri Balaji Nagar Phase II: Rs 770 per sq.ft (2024)
• Sri Balaji Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar.

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Nagar.?

The Sub Registrar Office that covers Srinivasa Nagar. is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Mepur, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This helps in avoiding any disputes related to property valuation and ensures a smooth transaction.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar.?

The current guideline value of Srinivasa Nagar. is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 100 per sq.ft to Rs 550 per sq.ft in 2024, reflecting a 450% increase overall. The values remained unchanged in 2012 and 2023.

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

Other streets in Mepur have varying guideline values, with the lowest being Rs 550 per sq.ft and the highest at Rs 2,955 per sq.ft. The median value for these streets is Rs 770 per sq.ft.

What fees are applicable when registering property in Srinivasa Nagar.?

When registering property in Srinivasa Nagar., the applicable fees include a stamp duty of 7% on the guideline value and a registration fee of 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Srinivasa Nagar.?

The Sub Registrar Office for Srinivasa Nagar. is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about your SRO online.