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 Thailavaram village under the Chengleput Joint II SRO, classified as Residential Special Type - IV.

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

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase 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 2017 to 2023, the guideline value increased by 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Srm Nagar (Ward-20) is above this median.

• Sundaram Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Sri Ram Nagar (Val): Rs 881 per sq.ft (2024)
• Tagore Phase - 1,2 (Tai): Rs 881 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 881 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 rate, the 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, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

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

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

The guideline value is a critical factor in the registration process of property transactions in Thailavaram. It serves as the basis for calculating the stamp duty and registration fees, ensuring that both buyers and sellers adhere to the official valuation set by the government.

When purchasing or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations involved in the transaction. Buyers should ensure that they are prepared for these costs to avoid any surprises during the registration process.

Frequently asked questions

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

The current guideline value of 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 seen several revisions, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in Srm Nagar (Ward-20)?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 1,18,800, which includes a stamp duty of Rs 92,400 and a registration fee of Rs 26,400.

Which Sub Registrar Office should I visit for Srm Nagar (Ward-20)?

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

What is the significance of the guideline value when buying property?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the property is valued accurately according to government standards, impacting the financial aspects of buying or selling.