Guideline Value for SRM NAGAR

Srm Nagar guideline value

The current guideline value of Srm Nagar, located in Sirunallur village under the Madurandakam SRO, is Rs 120 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Srm Nagar has changed

Over the years, the guideline value for Srm Nagar has seen several revisions. The most recent revision in 2024 maintains the value at Rs 120 per sq.ft, which is the same as the previous revision in 2023. Prior to that, the guideline value was Rs 120 per sq.ft in 2012 and Rs 80 per sq.ft in 2017. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 50% in the guideline value. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 120 per sq.ft.

Guideline values in Sirunallur

In Sirunallur, there are 16 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 175 per sq.ft, making Srm Nagar's 2024 figure below the median.

• S.R.S.Nagar: Rs 102 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 150 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 102 per sq.ft (2024)
• Sri Saraswathi Nagar: Rs 200 per sq.ft (2024)
• Sri Lakshmi Narasimmar Nagar: Rs 200 per sq.ft (2024)
• Sma Nagar Part-II: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Srm Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value would be Rs 1,20,000. The stamp duty at 7% would amount to Rs 8,400, and the registration fee at 2% would be Rs 2,400, bringing the total charges to Rs 10,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srm Nagar?

Srm Nagar falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sirunallur. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded at a fair value.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Srm Nagar?

The current guideline value of Srm Nagar is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, with the most recent revision in 2024 keeping it at Rs 120 per sq.ft. There was a significant increase of 50% from 2017 to 2023, but overall, the value has remained the same since 2012.

What is the land classification for Srm Nagar?

Srm Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Srm Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 120 per sq.ft would incur a stamp duty of Rs 8,400.