Guideline Value for SRM NAGAR (WARD-20)

Srm Nagar (Ward-20) guideline value

The current guideline value for Srm Nagar (Ward-20) is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - IV.

How the guideline value of Srm Nagar (Ward-20) has changed

Over the years, the guideline value for Srm Nagar (Ward-20) has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision and further rose to Rs 1,320 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a 10% increase in the guideline value.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value in this village is Rs 770 per sq.ft, making the 2024 figure for Srm Nagar (Ward-20) above that median.

• Sundaram Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Sri Ram Nagar (Val): Rs 880 per sq.ft (2024)
• Tagore Phase - 1,2 (Tai): Rs 880 per sq.ft (2024)
• Thailavaram 2nd & 3rd Street (Ward-21): Rs 660 per sq.ft (2024)
• Thailavaram Yerikkarai Thideer (Ward-21): Rs 660 per sq.ft (2024)
• Sripuram (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Srm Nagar (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the 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 accurate calculations.

Which Sub Registrar Office covers Srm Nagar (Ward-20)?

The Sub Registrar Office that covers Srm Nagar (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Konathi, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value will influence the applicable stamp duty and registration fees, which are calculated based on this value.

Additionally, it is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations during the registration process. This helps in avoiding any legal complications that may arise from undervaluing a property.

Frequently asked questions

What is the current guideline value for Srm Nagar (Ward-20)?

The current guideline value for Srm Nagar (Ward-20) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Srm Nagar (Ward-20)?

The land classification for Srm Nagar (Ward-20) is Residential Special Type - IV.

Where can I find the registration office for Srm Nagar (Ward-20)?

The registration office for Srm Nagar (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Srm Nagar (Ward-20)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.