Guideline Value for Shrenivasa nagar

Shrenivasa nagar guideline value

The current guideline value of Shrenivasa Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. It is located in Poonthamallee village under the Poonamallee SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Shrenivasa nagar has changed

The guideline value for Shrenivasa Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision.

Between the revisions, the changes were notable. From 2007 to 2012, there was an increase of 567%. The value then decreased by 33% from 2012 to 2017. Subsequently, there was a significant increase of 49% from 2017 to 2023, and finally, a 10% rise from 2023 to 2024. Overall, the guideline value has increased by 633% from 2007 to 2024.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Shrenivasa Nagar.

• Shri ambal city: Rs 2,740 per sq.ft (2024)
• Shri ambal nagar: Rs 2,740 per sq.ft (2024)
• Shri Ambal Nagar Ethiraj Naidu Avenue: Rs 2,740 per sq.ft (2024)
• Shri Ambal Nagar Malligai Avenue: Rs 2,740 per sq.ft (2024)
• Shri ambal nagar phase 1: Rs 2,740 per sq.ft (2024)
• Shri Bakthavatchalam avenue 559/2,560,561,564: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shrenivasa nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the 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 Shrenivasa nagar?

The Sub Registrar Office that covers Shrenivasa Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is often considered the minimum value for property transactions.

When registering a property, the guideline value ensures that the government receives the appropriate taxes based on the property's value. It is essential for both parties to understand this value as it can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Shrenivasa nagar?

The current guideline value of Shrenivasa Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 300 per sq.ft in 2007, rising to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty and registration fees for properties in Shrenivasa nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total stamp duty and registration fees would amount to Rs 1,98,000.

Which Sub Registrar Office is responsible for Shrenivasa nagar?

The Poonamallee Sub Registrar Office is responsible for Shrenivasa Nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification of Shrenivasa nagar?

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