Guideline Value for SRINIVASA NAGAR

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar in Chitthalapakkam village is Rs 2,900 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Industries Type - I.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was a decrease of 33% from Rs 1,809 per sq.ft in the 2017 revision. The value remained the same in the 2023 revision at Rs 2,700 per sq.ft, but increased by 7% to Rs 2,900 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value is Rs 2,900 per sq.ft, which matches the guideline value of Srinivasa Nagar.

• Sri Nagalakshmi Avenue: Rs 3,300 per sq.ft (2024)
• Sri Sarangabani Avenue: Rs 2,900 per sq.ft (2024)
• Sky Lab Avenue3 Extension: Rs 2,850 per sq.ft (2024)
• Sky Lab Avenue: Rs 2,900 per sq.ft (2024)
• TAMIL NADU HOUSING BOARD (E.W.S A Type & B Type): Rs 2,700 per sq.ft (2024)
• Tamilnadu Housing Board (L.I.G & H.I.G): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, totaling Rs 2,61,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, click here.

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

The guideline value is a crucial factor in property transactions in Chitthalapakkam. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for assessing the property’s worth. It helps in calculating the necessary fees and ensures that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, marking a 7% increase. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012.

What are the stamp duty rates for properties in Srinivasa Nagar?

The stamp duty for properties in Srinivasa Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is 2% of the guideline value.

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

The Sub Registrar Office for Srinivasa Nagar is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details here.

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar is classified as Industries Type - I. This classification can impact the types of developments that are permissible in the area.