Guideline Value for Sree Nagar

Sree Nagar guideline value

The current guideline value for Sree Nagar in Vallam village is Rs 850 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Sree Nagar has changed

The guideline value for Sree Nagar has undergone several revisions over the years. In 2007, the value was Rs 180 per sq.ft, which saw a significant increase to Rs 850 per sq.ft in 2012, marking a rise of 372%. However, from 2012 to 2017, the value decreased to Rs 569 per sq.ft, a drop of 33%. The value then increased by 49% to Rs 850 per sq.ft in 2023, and it remained unchanged at Rs 850 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, the guideline value has increased by 372% from 2007 to 2024.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value for Sree Nagar is below this median.

• Sri AathiBakavathi Nagar: Rs 800 per sq.ft (2024)
• Sri Balaji nagar: Rs 850 per sq.ft (2024)
• Shanthi Nagar: Rs 1,000 per sq.ft (2024)
• Selvam Nagar: Rs 800 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,000 per sq.ft (2024)
• School Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Nagar

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the guideline value totals Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total to Rs 76,500. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Sree Nagar?

The Sree Nagar area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vallam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally, reflecting the true value of the property.

Frequently asked questions

What is the current guideline value of Sree Nagar?

The current guideline value of Sree Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 180 per sq.ft in 2007 to Rs 850 per sq.ft in 2012, then decreasing to Rs 569 per sq.ft in 2017, and remaining at Rs 850 per sq.ft in 2023 and 2024.

What is the land classification of Sree Nagar?

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

Where can I find the Chengleput Joint I SRO?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information through the provided link.

How is stamp duty calculated for properties in Sree Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 at a rate of 7%.