Guideline Value for Sri City

Sri City guideline value

The current guideline value for Sri City, located in Kolathur village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri City has changed

In the 2012 revision, the guideline value was Rs 300 per sq.ft. This figure remained unchanged in the subsequent revisions of 2017 and 2023, where it was also Rs 300 per sq.ft. However, in the 2017 revision, there was a significant increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023. The register has no figure for the years 2002, 2003, and 2007.

As of the 2024 revision, the guideline value remains at Rs 300 per sq.ft, showing no change from the previous year. Overall, from the 2012 revision to the 2024 revision, there has been a 0% change in the guideline value.

Guideline values in Kolathur

Kolathur village has 45 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Sri City's 2024 figure above that median.

• Sri Kallazhagar city: Rs 250 per sq.ft (2024)
• Sri Kallazhagar City phase I: Rs 250 per sq.ft (2024)
• Sri Kallazhagar City PH.I Extension: Rs 250 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 250 per sq.ft (2024)
• S.M. Nagar: Rs 300 per sq.ft (2024)
• Sivam Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri City

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri City?

The Sub Registrar Office that covers Sri City is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties. This ensures that the transaction adheres to the regulatory framework set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri City?

The current guideline value of Sri City is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 300 per sq.ft, the same as in 2023. There was a significant increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

What are the other streets in Kolathur and their guideline values?

Other streets in Kolathur under the Sriperumpudur SRO have guideline values ranging from Rs 100 to Rs 1,300 per sq.ft. For example, S.M. Nagar is also valued at Rs 300 per sq.ft in 2024.

What is the registration fee for property in Sri City?

The registration fee for property in Sri City is calculated based on the guideline value or the sale price, whichever is higher. For instance, on a property valued at Rs 3,00,000, the registration fee would be Rs 6,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Sri City?

The Sub Registrar Office for Sri City is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more details by visiting the relevant online resources.