Guideline Value for Sreevari Nagar Phase - II

Sreevari Nagar Phase - II guideline value

The current guideline value of Sreevari Nagar Phase - II is Rs 990 per sq.ft, effective from 1 July 2024. This property is located in Thirumazhisai village under the Poonamallee SRO and is classified as Residential Class I Type - I.

How the guideline value of Sreevari Nagar Phase - II has changed

The guideline value for Sreevari Nagar Phase - II has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the latest revision in 2024 raised it further to Rs 990 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Sreevari Nagar Phase - II's 2024 figure below that median.

• Sreevari Nagar Phase - I Annex - III: Rs 1,650 per sq.ft (2024)
• Sreevari Nagar Phase I Annex II: Rs 1,210 per sq.ft (2024)
• Sreevari Nagar Annex: Rs 990 per sq.ft (2024)
• Sreevari Gardens Annex: Rs 1,650 per sq.ft (2024)
• S.M. Nagar: Rs 1,320 per sq.ft (2024)
• Srinivasa nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sreevari Nagar Phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sreevari Nagar Phase - II?

The Sub Registrar Office covering Sreevari Nagar Phase - II is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Thirumazhisai. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the financial obligations involved in the transaction. Buyers should ensure that they are prepared for these costs, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sreevari Nagar Phase - II?

The current guideline value of Sreevari Nagar Phase - II is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Sreevari Nagar Phase - II?

Sreevari Nagar Phase - II is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Where can I find my Sub Registrar Office?

The Sub Registrar Office for Sreevari Nagar Phase - II is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find more details online.