Guideline Value for SRINIVASA NAGAR

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the villages of Kizhnallathur & Melnallathur and is classified as Residential Class II Type - II by the Manavalanagar SRO.

How the guideline value of Srinivasa Nagar has changed

Over the years, the guideline value for Srinivasa Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. The most recent revision in 2024 has maintained this figure at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, when considering the period from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Srinivasa Nagar is below this median.

• Sri Sakthi Nagar: Rs 226 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 226 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 226 per sq.ft (2024)
• Siva Srinivasa Nagar: Rs 250 per sq.ft (2024)
• Sun City Phase 1: Rs 226 per sq.ft (2024)
• Sv Nagar, Gangaiamman Nagar: Rs 226 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 200 per sq.ft, the guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, while the registration fee at 2% would be Rs 4,000, making the total Rs 18,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar?

The Sub Registrar Office that covers Srinivasa Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor during the registration of property transactions in Kizhnallathur & Melnallathur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the government's assessment, helping to maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most notable changes occurring between 2017 and 2023, where it increased by 49%, and from 2012 to 2017, where it decreased by 33%.

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 18,000.

Where is the Sub Registrar Office for Srinivasa Nagar located?

The Manavalanagar Sub Registrar Office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.