Guideline Value for Shrinivasa nagar

Shrinivasa nagar guideline value

The current guideline value of Shrinivasa 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 Shrinivasa nagar has changed

The guideline value for Shrinivasa nagar has seen several revisions over the years. The earliest recorded value was Rs 300 per sq.ft in 2007, which then increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase, and has now reached Rs 2,200 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

It is important to note that the guideline values for the years 2002 and 2003 are not available for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry 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 is the same as the current guideline value for Shrinivasa nagar.

• Shri 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 Shrinivasa 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, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Shrinivasa nagar?

The Sub Registrar Office that covers Shrinivasa 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

When buying or selling property in Poonthamallee, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the property is not undervalued during registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall costs associated with property transactions. Ensuring that the sale price meets or exceeds the guideline value is important for a smooth registration process.

Frequently asked questions

What is the current guideline value of Shrinivasa nagar?

The current guideline value of Shrinivasa 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 are the other streets with the same guideline value in Poonthamallee?

Other streets in Poonthamallee with the same guideline value of Rs 2,200 per sq.ft include Shri nagar, Shri Padmavathy nagar, Shri shreeniavasa nagar 446/3, and Shri Bakthavatchalam avenue 559/2,560,561,564.

Where can I find the Sub Registrar Office for Shrinivasa nagar?

The Sub Registrar Office for Shrinivasa nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

How is stamp duty calculated for property transactions in Shrinivasa nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.