Guideline Value for SRIVARI NAGAR

Srivari Nagar guideline value

The current guideline value of Srivari Nagar, located in Perumpakkam village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Srivari Nagar has changed

The guideline value for Srivari Nagar has undergone several revisions over the years. In 2017, the guideline value was Rs 1,005 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Perumpakkam

In Perumpakkam, there are 17 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 680 to Rs 1,650 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Srivari Nagar's 2024 figure above this median.

• Srivari Avenue: Rs 680 per sq.ft (2024)
• Sri Karparga Vinayagar Nagar: Rs 680 per sq.ft (2024)
• T.N.R. Nagar: Rs 680 per sq.ft (2024)
• Saraswathi Nagar: Rs 770 per sq.ft (2024)
• Sambandham Garden: Rs 1,099 per sq.ft (2024)
• Veera Raghuavar Nagar: Rs 1,099 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

For further calculations, 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 Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Perumpakkam, as it determines the minimum value at which the property can be registered. This value is set by the government and is periodically revised to reflect changes in the real estate market.

When a property transaction occurs, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft in 2024, marking an overall increase of 64%.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees amount to Rs 1,48,500.

Which office handles the registration for Srivari Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles the registration for Srivari Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the median guideline value for streets in Perumpakkam?

The median guideline value for the 17 streets in Perumpakkam is Rs 770 per sq.ft, with Srivari Nagar's value being above this median at Rs 1,650 per sq.ft.