Guideline Value for SRM CITY

Srm City guideline value

The current guideline value of Srm City, located in Nenmeli village, is Rs 600 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint I SRO and is classified as Mixed Type - III.

How the guideline value of Srm City has changed

The guideline value for Srm City has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 600 per sq.ft, which is the same as the 2023 revision. The previous revision in 2017 set the value at Rs 402 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The 2017 revision was the first to provide a guideline value for Srm City.

Guideline values in Nenmeli

In Nenmeli, there are 53 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value across these streets is Rs 612 per sq.ft, indicating that Srm City's 2024 figure is below this median.

• Srm Avenue Phase-II: Rs 1,120 per sq.ft (2024)
• SRM Garden Phase - I: Rs 612 per sq.ft (2024)
• Srm Avenue Phase-I: Rs 1,120 per sq.ft (2024)
• SRM Garden Phase II: Rs 612 per sq.ft (2024)
• S.S.Garden Phase-I: Rs 1,045 per sq.ft (2024)
• Teachers Colony: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Srm City

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srm City?

The Srm City area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nenmeli. It determines the amount of stamp duty and registration fees that need to be paid, which are based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the property is registered at a fair value, which helps in maintaining transparency in real estate transactions. Buyers and sellers should be aware of the current guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Srm City?

The current guideline value of Srm City is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Srm City has remained at Rs 600 per sq.ft from 2023 to 2024, while it increased from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023, marking a 49% increase overall from 2017 to 2024.

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

Other streets in Nenmeli have varying guideline values. For example, Srm Avenue Phase-II and Srm Avenue Phase-I are valued at Rs 1,120 per sq.ft, while SRM Garden Phase - I and SRM Garden Phase II are valued at Rs 612 per sq.ft.

How is stamp duty calculated for properties in Srm City?

Stamp duty for properties in Srm City is calculated based on the guideline value or the sale price, whichever is higher. For instance, on a property valued at Rs 6,00,000, the stamp duty at 7% would be Rs 42,000.

Where can I find my Sub Registrar Office?

The Chengleput Joint I Sub Registrar Office covers Srm City. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO online for more information.