Guideline Value for Sri Hayagrivar Nagar Phase 5

Sri Hayagrivar Nagar Phase 5 guideline value

The current guideline value for Sri Hayagrivar Nagar Phase 5, located in Chettipunniyam village under the Chengleput Joint II SRO, is Rs 900 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Hayagrivar Nagar Phase 5 has changed

Since the 2007 revision, the guideline value for Sri Hayagrivar Nagar Phase 5 has seen significant changes. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 900 per sq.ft in 2012, marking a substantial rise of 350%. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, a decline of 33%. The value then increased again to Rs 900 per sq.ft in 2023, and it has remained unchanged at Rs 900 per sq.ft in the 2024 revision, reflecting a 49% increase from 2017 to 2023.

The guideline value has remained consistent at Rs 900 per sq.ft for both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Chettipunniyam

In Chettipunniyam village, 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, with the median value being Rs 900 per sq.ft. The guideline value for Sri Hayagrivar Nagar Phase 5 aligns with this median.

• Sri Hayagrivar Nagar Phase 3: 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 5

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 9,00,000. The stamp duty at 7% would amount to Rs 63,000, while the registration fee at 2% would be Rs 18,000, leading to a total of Rs 81,000 for both fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Hayagrivar Nagar Phase 5?

The Chengleput Joint II Sub Registrar Office covers Sri Hayagrivar Nagar Phase 5. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chettipunniyam. When you buy or sell property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This value is essential for ensuring that the transaction is registered correctly and complies with local regulations.

It is important to be aware that the guideline value is updated periodically, and it can affect the overall cost of buying or selling property in the area. Buyers and sellers should always check the latest guideline values to ensure they are informed about the costs involved in their transactions.

Frequently asked questions

What is the current guideline value for Sri Hayagrivar Nagar Phase 5?

The current guideline value for Sri Hayagrivar Nagar Phase 5 is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 200 per sq.ft to Rs 900 per sq.ft in 2024, reflecting a total increase of 350% overall.

What are the stamp duty and registration fees for properties in Sri Hayagrivar Nagar Phase 5?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees would amount to Rs 81,000.

Which Sub Registrar Office is responsible for Sri Hayagrivar Nagar Phase 5?

The Chengleput Joint II Sub Registrar Office is responsible for Sri Hayagrivar Nagar Phase 5, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Sri Hayagrivar Nagar Phase 5?

Sri Hayagrivar Nagar Phase 5 falls under the Residential Class I Type - I land classification.