Guideline Value for SRIVARI NAGAR

Srivari Nagar guideline value

The current guideline value of Srivari Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Thirumazhisai village under the Poonamallee SRO, classified as Residential Class II Type - I.

How the guideline value of Srivari Nagar has changed

The guideline value for Srivari Nagar has seen several revisions over the years. In the 2012 revision, the value was Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision, and then rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change is a 10% increase. Notably, the 2017 to 2023 revision saw a substantial increase of 49%, while the 2012 to 2017 revision experienced a decrease of 33%.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value of Srivari Nagar is below this median.

• Srinivasa nagar: Rs 1,320 per sq.ft (2024)
• Sreevari Nagar Phase - II: Rs 990 per sq.ft (2024)
• Sreevari Nagar Phase - I Annex - III: Rs 1,650 per sq.ft (2024)
• Sreevari Nagar Phase I Annex II: Rs 1,210 per sq.ft (2024)
• Sreevari Nagar Annex: Rs 990 per sq.ft (2024)
• Sreevari Gardens Annex: Rs 1,650 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Srivari Nagar?

The Sub Registrar Office that covers Srivari Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Srivari Nagar, the guideline value will influence the stamp duty and registration fees payable at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it ensures compliance with legal requirements during property transactions. Accurate knowledge of the guideline value helps in understanding the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Srivari Nagar?

The current guideline value of Srivari Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Srivari Nagar?

Srivari Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What is the median guideline value in Thirumazhisai?

The median guideline value in Thirumazhisai is Rs 1,320 per sq.ft for the year 2024, with Srivari Nagar's value being below this median.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. This office is responsible for property registrations in the area.