Guideline Value for Shri nagar

Shri nagar guideline value

The current guideline value of Shri nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Shri nagar has changed

The guideline value for Shri 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, marking a 567% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then climbed to Rs 2,000 per sq.ft in 2023 and further increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 633%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that have a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which aligns with the current guideline value of Shri nagar.

• Shrinivasa nagar: Rs 2,200 per sq.ft (2024)
• Shri Padmavathy nagar: Rs 2,200 per sq.ft (2024)
• Shri shreeniavasa nagar 446/3: Rs 2,200 per sq.ft (2024)
• Shri Bakthavatchalam avenue 559/2,560,561,564: Rs 2,200 per sq.ft (2024)
• Shri ambal nagar phase 1: Rs 2,740 per sq.ft (2024)
• Shri Ambal Nagar Malligai Avenue: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Shri 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 cost for these fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shri nagar?

The Sub Registrar Office that covers Shri nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee 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 is a crucial factor when registering property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Shri nagar?

The current guideline value of Shri 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 from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the land classification of Shri nagar?

Shri nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty rates for property in Shri nagar?

The stamp duty for property in Shri nagar is 7% of the guideline value, and the registration fee is 2% of the guideline value.

Which office handles registrations for Shri nagar?

The Poonamallee Sub Registrar Office handles registrations for Shri nagar, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.