Guideline Value for Sri Hayagrivar Nagar Phase 3

Sri Hayagrivar Nagar Phase 3 guideline value

The current guideline value of Sri Hayagrivar Nagar Phase 3 is Rs 900 per sq.ft, effective from 1 July 2024. This area is located in Chettipunniyam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Hayagrivar Nagar Phase 3 has changed

The guideline value for Sri Hayagrivar Nagar Phase 3 has seen several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, this figure dropped to Rs 603 per sq.ft in 2017, before climbing back to Rs 900 per sq.ft in both 2023 and 2024. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the value dropped by 33% from 2012 to 2017. The most notable increase was from 2007 to 2012, where the value surged by 260%. Overall, from 2007 to 2024, the guideline value has increased by 260%.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft. The median value for these streets is Rs 900 per sq.ft, which is equal to the guideline value of Sri Hayagrivar Nagar Phase 3.

• Sri Hayagrivar Nagar Phase 5: Rs 900 per sq.ft (2024)
• Sri Ganapathy Nagar Extension-II: Rs 1,200 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 1,200 per sq.ft (2024)
• Sri Devanathan Nagar: Rs 900 per sq.ft (2024)
• Sri Desikan Nagar: Rs 900 per sq.ft (2024)
• Sri Ambujammal Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Hayagrivar Nagar Phase 3

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value would be Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, resulting in a total of Rs 81,000. 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 Hayagrivar Nagar Phase 3?

The Sub Registrar Office that covers Sri Hayagrivar Nagar Phase 3 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Chettipunniyam

The guideline value plays a crucial role when buying or selling property in Chettipunniyam. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to facilitate a smooth transaction.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both parties to be informed of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Hayagrivar Nagar Phase 3?

The current guideline value of Sri Hayagrivar Nagar Phase 3 is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, before returning to Rs 900 per sq.ft in 2023 and 2024.

What is the land classification for Sri Hayagrivar Nagar Phase 3?

Sri Hayagrivar Nagar Phase 3 is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Sri Hayagrivar Nagar Phase 3?

The Sub Registrar Office for Sri Hayagrivar Nagar Phase 3 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Sri Hayagrivar Nagar Phase 3?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 900 per sq.ft, the guideline value would be Rs 9,00,000, leading to a stamp duty of Rs 63,000.