Guideline Value for Sri Nagar

Sri Nagar guideline value

The current guideline value of Sri Nagar, located in Sriperumbudur A village under the Sriperumpudur SRO, is Rs 700 per sq.ft. This value is effective from the 2024 revision, which came into effect on 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sri Nagar has changed

In the 2017 revision, the guideline value for Sri Nagar was Rs 469 per sq.ft. This figure remained unchanged in the 2023 revision, where it continued to be Rs 700 per sq.ft. The current 2024 revision also maintains this value at Rs 700 per sq.ft, showing no change from the previous year. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49% in the guideline value, and the overall change from 2017 to 2024 is also 49%. The consistent value of Rs 700 per sq.ft in the last two revisions indicates stability in the guideline value for this street.

Guideline values in Sriperumbudur A

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

• Sri Nagar Phase - II: 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

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, leading to a total cost of Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Sriperumbudur A. It is the minimum value set by the government for the registration of property transactions, ensuring that properties are registered at a fair value.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. This ensures that the state revenue is collected based on the established guideline value, which is periodically revised to reflect market conditions.

Frequently asked questions

What is the current guideline value of Sri Nagar?

The current guideline value of Sri Nagar is Rs 700 per sq.ft, effective from the 2024 revision that started on 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Nagar was Rs 469 per sq.ft in 2017 and increased to Rs 700 per sq.ft in both the 2023 and 2024 revisions, showing a 49% increase overall from 2017 to 2024.

What is the land classification for Sri Nagar?

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

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

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

Where is the Sub Registrar Office for Sri Nagar located?

The Sub Registrar Office for Sri Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles registrations for properties in the area.