Guideline Value for Sri Nagar

Sri Nagar guideline value

The current guideline value of Sri Nagar, located in Thodukadu village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Nagar has changed

Looking at the historical revisions, the guideline value for Sri Nagar has seen several changes. In 2007, the guideline value was Rs 80 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, this value remained unchanged until the 2017 revision, where it increased to Rs 268 per sq.ft. The 2023 revision maintained the value at Rs 400 per sq.ft, and the 2024 revision also set it at Rs 400 per sq.ft. The register has no figure for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The value then remained stable from 2023 to 2024, showing no change. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Thodukadu

In Thodukadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,250 per sq.ft. The median value among these streets is Rs 400 per sq.ft, which is equal to the current guideline value of Sri Nagar. Below are the guideline values for other streets in Thodukadu:

• Sri Ashok Nagar: Rs 500 per sq.ft (2024)
• Thiruvallur Main Road: Rs 500 per sq.ft (2024)
• Usha Nagar: Rs 300 per sq.ft (2024)
• Vayalur Road: Rs 300 per sq.ft (2024)
• Purushothaman Avenue: Rs 300 per sq.ft (2024)
• Pari Nagar: Rs 300 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total cost for these fees Rs 36,000. 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 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 Thodukadu

The guideline value is a critical factor during the registration of property in Thodukadu. It determines the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. Buyers should be aware that the stamp duty and registration fees will be calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Sri Nagar?

The current guideline value of Sri Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft in the revisions of 2023 and 2024.

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

Other streets in Thodukadu include Sri Ashok Nagar at Rs 500 per sq.ft, Thiruvallur Main Road at Rs 500 per sq.ft, and Usha Nagar, Vayalur Road, Purushothaman Avenue, and Pari Nagar, all at Rs 300 per sq.ft.

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

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000 and the registration fee is Rs 8,000, totaling Rs 36,000. These fees are 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.