Guideline Value for Sri Nagar Rd ( Ward No.4 )

Sri Nagar Rd ( Ward No.4 ) guideline value

The current guideline value of Sri Nagar Rd ( Ward No.4 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sri Nagar Rd ( Ward No.4 ) has changed

Over the years, the guideline value of Sri Nagar Rd has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, marking a significant drop of 33%. The value then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision, reflecting an 8% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007. The overall change from the 2012 figure to the current 2024 value shows an 8% increase.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the area is Rs 1,600 per sq.ft, indicating that the 2024 figure for Sri Nagar Rd is below this median.

• Srinivasa Colony (Periyamedu): Rs 1,300 per sq.ft (2024)
• Sri Nagar: Rs 1,600 per sq.ft (2024)
• Srinivasa Nagar 1st Main Road ( Ward No.11 ): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar 1st St (Ward-11): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar 1st st ( Ward No.21 ): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar 2nd Main Road ( Ward No.11 ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar Rd ( Ward No.4 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Nagar Rd ( Ward No.4 )?

The Sub Registrar Office that covers Sri Nagar Rd ( Ward No.4 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the registration process is transparent and standardized.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers and sellers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Nagar Rd ( Ward No.4 )?

The current guideline value of Sri Nagar Rd ( Ward No.4 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and currently to Rs 1,300 per sq.ft in 2024.

What is the land classification for Sri Nagar Rd ( Ward No.4 )?

Sri Nagar Rd ( Ward No.4 ) is classified as Residential Class III Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Sri Nagar Rd ( Ward No.4 )?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.