Guideline Value for SRIVARI NAGAR

Srivari Nagar guideline value

The current guideline value of Srivari Nagar, located in Kovilkuppam village under the Manavalanagar SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Srivari Nagar has changed

In the 2012 revision, the guideline value was set at Rs 300 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 300 per sq.ft, reflecting a rise of 49%. The 2023 revision maintained the same value of Rs 300 per sq.ft, which has continued into the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 300 per sq.ft.

Guideline values in Kovilkuppam

Kovilkuppam village has 68 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, making Srivari Nagar's 2024 figure below that median.

• Surya Town: Rs 300 per sq.ft (2024)
• S V Nagar: Rs 350 per sq.ft (2024)
• Sv Nagar Extension: Rs 300 per sq.ft (2024)
• Sri Krishna Nagar: Rs 300 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 300 per sq.ft (2024)
• Senthil Andavar Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Srivari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srivari Nagar?

The Sub Registrar Office that covers Srivari 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 more information.

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

The guideline value is an essential factor during property registration in Kovilkuppam. It serves as a benchmark for determining the stamp duty and registration fees payable when a property transaction occurs.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the established rates in the area. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Srivari Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, with a significant drop in 2017 to Rs 201 per sq.ft, followed by an increase back to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification of Srivari Nagar?

Srivari Nagar falls under the Residential Class III Type - I land classification.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which Sub Registrar Office covers the area of Srivari Nagar?

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