Guideline Value for Sri Hanuman Nagar

Sri Hanuman Nagar guideline value

The current guideline value of Sri Hanuman Nagar, located in Gowrivakkam village, is Rs 860 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of Sri Hanuman Nagar has changed

The guideline value for Sri Hanuman Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a significant rise of 200%. However, by 2017, the value decreased to Rs 402 per sq.ft, a drop of 33%. The value then rose again to Rs 600 per sq.ft in 2023, followed by a substantial increase to Rs 860 per sq.ft in 2024, which represents a 43% increase from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 330%. It is important to note that the register has no figures for this street in the years 2002 and 2003.

Guideline values in Gowrivakkam

In Gowrivakkam, there are a total of 130 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Sri Hanuman Nagar is below this median.

• Soundarya Nagar: Rs 1,600 per sq.ft (2024)
• Sriram Street: Rs 1,600 per sq.ft (2024)
• Sivan Koil Rajaveedhi: Rs 860 per sq.ft (2024)
• Sivagami Nagar Thiruvalluvar Street & Extn: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Pirathana salai: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Hanuman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 860 per sq.ft, the total guideline value amounts to Rs 8,60,000. The stamp duty at 7% would be Rs 60,200, and the registration fee at 2% would be Rs 17,200, bringing the total to Rs 77,400. 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 Hanuman Nagar?

Sri Hanuman Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees that are required to complete the transaction.

During registration, the authorities will assess the property based on the guideline value, ensuring that the transaction is recorded at a value that reflects the current market conditions. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value for Sri Hanuman Nagar?

The current guideline value for Sri Hanuman Nagar is Rs 860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 860 per sq.ft in 2024, with various increases and decreases in between, including a significant rise of 330% overall since 2007.

What is the land classification of Sri Hanuman Nagar?

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

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated in Sri Hanuman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 60,200.