Guideline Value for Sri Guberan Nagar

Sri Guberan Nagar guideline value

The current guideline value of Sri Guberan Nagar, located in Vinayaganaloore village, is Rs 101 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Residential Special Type - II.

How the guideline value of Sri Guberan Nagar has changed

The guideline value for Sri Guberan Nagar has seen several revisions over the years. In 2007, the value was Rs 15 per sq.ft, which increased significantly to Rs 80 per sq.ft in 2012. However, it then decreased to Rs 54 per sq.ft in 2017. The value continued to rise, reaching Rs 100 per sq.ft in 2023, and finally, it is now set at Rs 101 per sq.ft in 2024.

Between these revisions, there have been notable changes. From 2007 to 2012, the value increased by 433%, but then dropped by 33% from 2012 to 2017. There was a substantial increase of 85% from 2017 to 2023, and a slight rise of 1% from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vinayaganaloore

In Vinayaganaloore, there are a total of 8 streets under the Madurandakam SRO that have a guideline value for 2024, ranging from Rs 100 to Rs 150 per sq.ft. The median value for these streets is Rs 102 per sq.ft, placing Sri Guberan Nagar's value below this median.

• Sri Gubera Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sri Balaji Nagar: Rs 101 per sq.ft (2024)
• Sree Kamatchi Nagar: Rs 102 per sq.ft (2024)
• Saranalaya Nagar Phase-I: Rs 150 per sq.ft (2024)
• Raja Nagar: Rs 103 per sq.ft (2024)
• Vasantham Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Guberan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, making the total cost for these fees Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Guberan Nagar?

The Sub Registrar Office that covers Sri Guberan Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vinayaganaloore. It is used to determine the applicable stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value as it impacts the overall cost of the transaction.

When registering a property, the guideline value is compared to the sale price. The higher of the two will be used to calculate the necessary fees. This ensures that the transaction is recorded accurately and reflects the value of the property as per the regulations.

Frequently asked questions

What is the current guideline value of Sri Guberan Nagar?

The current guideline value of Sri Guberan Nagar is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 15 per sq.ft in 2007 to Rs 101 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Sri Guberan Nagar?

Sri Guberan Nagar is classified as Residential Special Type - II.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Guberan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070 at 7%.