Guideline Value for Sri Nagar

Sri Nagar guideline value

The current guideline value for Sri Nagar in Maakaanyam village, under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This property is classified as Residential Class I Type - I.

How the guideline value of Sri Nagar has changed

Since the 2012 revision, the guideline value for Sri Nagar has seen various changes. In 2012, the guideline value was Rs 200 per sq.ft, which remained unchanged in the 2017 revision at Rs 134 per sq.ft, reflecting a decrease of 33%. However, from 2017 to the 2023 revision, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. The 2024 revision also maintains this value at Rs 200 per sq.ft, resulting in a 0% change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for Sri Nagar. Therefore, the guideline values for these years are not applicable.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft. The median guideline value in this area is Rs 250 per sq.ft, making the current value for Sri Nagar below that median.

• Sri Murugan City: Rs 300 per sq.ft (2024)
• Sri Padmanaba Samy Nagar: Rs 600 per sq.ft (2024)
• Sri Premkavaradhan Nagar: Rs 300 per sq.ft (2024)
• Sri Kalyana Srinivasaperumal koil street: Rs 400 per sq.ft (2024)
• Sri Hari balaji nagar: Rs 300 per sq.ft (2024)
• Sri city: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total of Rs 18,000 for the transaction. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Nagar?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Maakaanyam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Sri Nagar?

The current guideline value for Sri Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value for Sri Nagar has fluctuated, with a decrease from Rs 200 to Rs 134 in 2017, followed by an increase back to Rs 200 in 2023 and 2024.

What are the other streets in Maakaanyam and their guideline values?

Other streets in Maakaanyam include Sri Murugan City at Rs 300 per sq.ft, Sri Padmanaba Samy Nagar at Rs 600 per sq.ft, and several others with varying values, with the median being Rs 250 per sq.ft.

What fees are associated with property registration in Sri Nagar?

For a property valued at Rs 2,00,000, the stamp duty is Rs 14,000 and the registration fee is Rs 4,000, totaling Rs 18,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Sri Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information through the provided link.