Guideline Value for SRM NAGAR (WARD-20)

Srm Nagar (Ward-20) guideline value

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

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

The guideline value for Srm Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The value increased to Rs 1,200 per sq.ft in the 2023 revision, and in the latest 2024 revision, it rose again to Rs 1,320 per sq.ft, reflecting an increase of 10% from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

Vallancheri village has a total of 134 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, and Srm Nagar's guideline value is above this median.

• Sundaram Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Sri Sai Avenue -III: 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)

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 would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling 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 details.

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. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Vallancheri. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value serves as a benchmark for property prices in the area, helping to standardize the registration process across different properties.

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 for Srm Nagar?

The guideline value for Srm Nagar has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased 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 of Srm Nagar?

Srm Nagar is classified as Residential Special Type - IV under the Chengleput Joint II SRO.

What are the guideline values for other streets in Vallancheri?

Other streets in Vallancheri have varying guideline values, ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 825 per sq.ft. Srm Nagar's value is above this median.

Where can I find the Sub Registrar Office for Srm Nagar?

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