Guideline Value for SRINIVASA NAGAR

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Minjur village under the Ponneri SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has seen significant changes over the years. In the 2017 revision, the value was set at Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a rise of 49%. The latest revision in 2024 has further increased the value to Rs 550 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the current guideline value of Srinivasa Nagar.

• Sri Murali Nagar: Rs 880 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 550 per sq.ft (2024)
• Sri Kamala Nagar: Rs 550 per sq.ft (2024)
• Sri Janakirathina Nagar: Rs 880 per sq.ft (2024)
• Sri Haya Greevar Nagar: Rs 550 per sq.ft (2024)
• Sri Devi Nagar: Rs 880 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 550 per sq.ft, the total 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, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar?

The Sub Registrar Office covering Srinivasa Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Minjur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official value of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

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 much has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking a total increase of 64% over these years.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Srinivasa Nagar?

The Ponneri Sub Registrar Office covers Srinivasa Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar falls under the Residential Class II Type - I land classification.