Guideline Value for Sri Nagar Phase - II

Sri Nagar Phase - II guideline value

The current guideline value for Sri Nagar Phase - II is Rs 700 per sq.ft. This area is located in Sriperumbudur A village, under the jurisdiction of the Sriperumpudur SRO. The land classification for this property is Residential Class III Type - I.

How the guideline value of Sri Nagar Phase - II has changed

The guideline value for Sri Nagar Phase - II has remained consistent at Rs 700 per sq.ft since the 2023 revision and was also Rs 700 per sq.ft in the 2024 revision, reflecting no change between these two years. In contrast, the value saw a significant increase from Rs 469 per sq.ft in the 2017 revision to Rs 700 per sq.ft in 2023, marking a 49% rise over this period.

For the years 2002, 2003, 2007, and 2012, the register has no figure for this street. Overall, comparing the 2017 revision to the 2024 revision, there has been a total increase of 49% in the guideline value.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is equal to the current value of Sri Nagar Phase - II.

• Sri Nagar: Rs 700 per sq.ft (2024)
• Srinivasa nagar: Rs 700 per sq.ft (2024)
• Sri Mangadu Kamachi Nagar: Rs 400 per sq.ft (2024)
• Srimadhe Ramanujar Nagar Part - II: Rs 700 per sq.ft (2024)
• Srimadhe Ramanujar Nagar: Rs 700 per sq.ft (2024)
• Sriperumpudur Chengalpattu Road: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar Phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. Please 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 Nagar Phase - II?

The Sub Registrar Office that covers Sri Nagar Phase - II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Sriperumbudur A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. This ensures that all transactions are transparent and comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Nagar Phase - II?

The current guideline value of Sri Nagar Phase - II is Rs 700 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

From the 2017 revision to the 2023 revision, the guideline value increased from Rs 469 per sq.ft to Rs 700 per sq.ft, a rise of 49%. The value has remained unchanged at Rs 700 per sq.ft from 2023 to 2024.

What are the stamp duty and registration fees for property in Sri Nagar Phase - II?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Sri Nagar Phase - II?

The Sriperumpudur Sub Registrar Office is responsible for registrations in Sri Nagar Phase - II, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Sri Nagar Phase - II?

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