Guideline Value for SRINIVASA NAGAR

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Vichoor village under the Thiruvottiyur SRO, is Rs 485 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar has changed

Over the years, the guideline value of Srinivasa Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 100 per sq.ft. This increased significantly to Rs 440 per sq.ft in 2012, marking a 340% rise. However, from 2012 to 2017, there was a decrease to Rs 295 per sq.ft, which represents a 33% drop. The value then rose to Rs 441 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 485 per sq.ft, reflecting a 10% increase from the previous year.

To summarize the changes: from 2017 to 2023, the value increased by 49%. The overall increase from the 2007 revision to the current 2024 revision is 385%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Vichoor

In Vichoor village, there are 45 streets under the Thiruvottiyur SRO that have a guideline value for 2024, ranging from Rs 330 to Rs 550 per sq.ft. The median value is Rs 485 per sq.ft, which matches the guideline value of Srinivasa Nagar.

• Sri Mugambigai Nagar: Rs 485 per sq.ft (2024)
• Sri Mahalashmi Nagar: Rs 485 per sq.ft (2024)
• Sri Ram Ganapathi Nagar: Rs 485 per sq.ft (2024)
• Sri Ram Nagar: Rs 485 per sq.ft (2024)
• Sri Ramnagar Extn: Rs 485 per sq.ft (2024)
• Sri Devi Nagar: Rs 485 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 485 per sq.ft, the total guideline value amounts to Rs 4,85,000. The stamp duty at 7% would be Rs 33,950, and the registration fee at 2% would be Rs 9,700, totaling Rs 43,650. 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 information.

Which Sub Registrar Office covers Srinivasa Nagar?

The Sub Registrar Office that covers Srinivasa Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for additional details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vichoor. It serves as a benchmark for determining the minimum value of the property, ensuring that transactions are recorded fairly and transparently.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 485 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 2007 to Rs 485 per sq.ft in 2024, reflecting an overall increase of 385% over the years.

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

For a property valued at Rs 4,85,000, the stamp duty is Rs 33,950 and the registration fee is Rs 9,700, totaling Rs 43,650.

Which office handles property registrations in Srinivasa Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Srinivasa Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

Where can I find more information about guideline values in Vichoor?

More information about guideline values in Vichoor can be found in the Registration Department's guideline value register (TNReginet) or by visiting the Thiruvottiyur Sub Registrar Office.