Guideline Value for SRIVARI NAGAR

Srivari Nagar guideline value

The current guideline value of Srivari Nagar, located in Korattur-A village under the Avadi SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Srivari Nagar has changed

The guideline value for Srivari Nagar has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show an increase from Rs 200 per sq.ft in 2023 to Rs 220 per sq.ft in 2024, marking a 10% increase.

Prior to the 2023 revision, the guideline value for this street was not recorded in the register. The 2024 figure of Rs 220 per sq.ft is below the median of Rs 1,025 per sq.ft for the 10 streets in Korattur-A under the Avadi SRO that carry a 2024 figure, which ranges from Rs 220 to Rs 2,050 per sq.ft.

Guideline values in Korattur-A

In Korattur-A, the guideline values vary significantly across different streets. The guideline value for Srivari Nagar is Rs 220 per sq.ft, which is lower than the median value. Below are the guideline values for other streets in Korattur-A:

• Sri Vari Nagar Phase I: Rs 440 per sq.ft (2024)
• Sri Vari Garden: Rs 440 per sq.ft (2024)
• Vijay Raja Homes Pvt Ltd: Rs 550 per sq.ft (2024)
• K.S.S.Sun City: Rs 440 per sq.ft (2024)
• Amber County By Urban Tree: Rs 1,500 per sq.ft (2024)
• Avni - 1/2b, 5/2, 9/1a, 9/1b, 9/2a, 9/2b, 10/1a: Rs 2,050 per sq.ft (2024)

Stamp duty and registration fee for property in Srivari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total to Rs 19,800. 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 precise calculations.

Which Sub Registrar Office covers Srivari Nagar?

Srivari Nagar falls under the jurisdiction of the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Korattur-A

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur-A. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately, reflecting the value of the property as per the government’s assessment. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Srivari Nagar?

The current guideline value of Srivari Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2023 to Rs 220 per sq.ft in 2024, reflecting a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Korattur-A?

Other streets in Korattur-A have varying guideline values ranging from Rs 220 to Rs 2,050 per sq.ft. The median value for these streets is Rs 1,025 per sq.ft.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 2,20,000. The stamp duty would be Rs 15,400, and the registration fee would be Rs 4,400, totaling Rs 19,800.

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

The Sub Registrar Office for Srivari Nagar is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.