Guideline Value for SRIVARI NAGAR PHASE-1

Srivari Nagar Phase-1 guideline value

The current guideline value of Srivari Nagar Phase-1 is Rs 300 per sq.ft. This property is located in Phagalmedu village, under the Arani_Tiruvallur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Srivari Nagar Phase-1 has changed

In the 2017 revision, the guideline value was Rs 201 per sq.ft. This value increased to Rs 300 per sq.ft in the 2023 revision, marking a change of +49%. The 2024 revision also maintains the guideline value at Rs 300 per sq.ft, reflecting a change of +0% from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +49%. This consistent rise indicates a stable valuation in the recent revisions.

Guideline values in Phagalmedu

In Phagalmedu, there are six streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 300 per sq.ft. The median value for these streets is Rs 275 per sq.ft, positioning Srivari Nagar Phase-1 above this median.

• Sri Vari Nagar Phase-II: Rs 300 per sq.ft (2024)
• Sri Venkatachalapathy Nagar: Rs 250 per sq.ft (2024)
• Thirumalai Nagar: Rs 250 per sq.ft (2024)
• Padmavathi Nagar: Rs 250 per sq.ft (2024)
• Kavitha Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Srivari Nagar Phase-1

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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 Srivari Nagar Phase-1?

The Sub Registrar Office covering Srivari Nagar Phase-1 is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, ponneri(tk), thiruvallur(dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must refer to this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the completion of the transaction. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Srivari Nagar Phase-1?

The current guideline value for Srivari Nagar Phase-1 is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023 and remains at Rs 300 per sq.ft in 2024, showing a +49% increase overall since 2017.

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

Other streets in Phagalmedu include Sri Vari Nagar Phase-II at Rs 300 per sq.ft, Sri Venkatachalapathy Nagar and Thirumalai Nagar at Rs 250 per sq.ft, Padmavathi Nagar at Rs 250 per sq.ft, and Kavitha Nagar at Rs 300 per sq.ft.

What fees are associated with buying property in Srivari Nagar Phase-1?

When buying property in Srivari Nagar Phase-1, the total fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Srivari Nagar Phase-1?

The Sub Registrar Office for Srivari Nagar Phase-1 is located at No.10, S.p Kovil Street, Arani, ponneri(tk), thiruvallur(dt) - 601 101. You can find more details online.