Guideline Value for Sri Harish Nagar

Sri Harish Nagar guideline value

The current guideline value of Sri Harish Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Thirumudivakkam village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Harish Nagar has changed

The guideline value for Sri Harish Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and finally to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value of Sri Harish Nagar is below this median.

• Sri Jayanthi Nagar: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,320 per sq.ft (2024)
• Sri Devi Nagar: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar Phase II: Rs 1,320 per sq.ft (2024)
• Sri Mahalakshmi Co-operative society nagar: Rs 1,320 per sq.ft (2024)
• Srinivasa Garden: Rs 3,210 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Harish Nagar

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Harish Nagar?

Sri Harish Nagar falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Thirumudivakkam. It serves as a reference point for the government to assess property transactions and ensure that the appropriate taxes are collected.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Sri Harish Nagar?

The current guideline value of Sri Harish Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the other streets in Thirumudivakkam with their guideline values?

Other streets in Thirumudivakkam include Sri Jayanthi Nagar and Sri Devi Nagar at Rs 660 per sq.ft, while Sri Krishna Nagar, Sri Krishna Nagar Phase II, and Sri Mahalakshmi Co-operative society nagar are at Rs 1,320 per sq.ft. Srinivasa Garden has a higher value of Rs 3,210 per sq.ft.

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

The Sub Registrar Office covering Sri Harish Nagar is the Padappai SRO, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 6,60,000, the stamp duty would amount to Rs 46,200.