Guideline Value for Sri Enclave

Sri Enclave guideline value

The current guideline value of Sri Enclave, located in Chinnapanicheri village under the Kunrathur SRO, is Rs 800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Enclave has changed

Over the years, the guideline value of Sri Enclave has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017, before rising again to Rs 700 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 800 per sq.ft, marking a 14% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is a modest increase of 14%. The significant changes include a 49% rise from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and a decrease of 33% from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chinnapanicheri

In Chinnapanicheri, there are 14 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 675 per sq.ft. Sri Enclave's 2024 guideline value of Rs 800 per sq.ft is above this median.

• Shanthi Nagar: Rs 550 per sq.ft (2024)
• Santha Nagar: Rs 550 per sq.ft (2024)
• Pudhupettai street: Rs 550 per sq.ft (2024)
• Panchatcharam Nagar Annexe: Rs 800 per sq.ft (2024)
• Panchatcharam Nagar: Rs 800 per sq.ft (2024)
• Nova Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. 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 Enclave?

The Sub Registrar Office that covers Sri Enclave 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 Chinnapanicheri

The guideline value is a key factor in the registration process when buying or selling property in Chinnapanicheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Enclave?

The current guideline value of Sri Enclave is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 800 per sq.ft in 2024.

What is the stamp duty rate for properties in Sri Enclave?

The stamp duty rate for properties in Sri Enclave is 7% of the guideline value or sale price, whichever is higher.

What are the registration fees for properties in Sri Enclave?

The registration fee for properties in Sri Enclave is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.