Guideline Value for Sri Chakreswari Nagar

Sri Chakreswari Nagar guideline value

The current guideline value of Sri Chakreswari Nagar, located in Sundaracholavaram village under the Kunrathur SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Sri Chakreswari Nagar has changed

The guideline value for Sri Chakreswari Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 180%. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, a reduction of 33%. The value then rose to Rs 700 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 770 per sq.ft, an increase of 10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 208%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Sri Chakreswari Nagar is above this median.

• Sri Deivanayagi Nagar: Rs 660 per sq.ft (2024)
• Sri L.K.B. Nagar Annuxe: Rs 660 per sq.ft (2024)
• Sri Murugan Nagar: Rs 550 per sq.ft (2024)
• Sri Omsakthi Nagar: Rs 660 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 880 per sq.ft (2024)
• Sri Satheswari Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Chakreswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Chakreswari Nagar?

The Sub Registrar Office that covers Sri Chakreswari Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Sundaracholavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring that transactions are compliant with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Chakreswari Nagar?

The current guideline value of Sri Chakreswari Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, marking an overall increase of 208% over the years.

What is the land classification of Sri Chakreswari Nagar?

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

What are the stamp duty and registration fees for property in Sri Chakreswari Nagar?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300. These fees are based on the guideline value.

Where can I find the Sub Registrar Office for Sri Chakreswari Nagar?

The Sub Registrar Office for Sri Chakreswari Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details online.