Guideline Value for Sri Nagar

Sri Nagar guideline value

The current guideline value of Sri Nagar, located in Kaval Kazhani village under the Sunguvarchattram SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Nagar has changed

Over the years, the guideline value for Sri Nagar has seen several revisions. The register shows no figures for the years 2002, 2003, 2007, and 2012. In the 2017 revision, the guideline value was set at Rs 268 per sq.ft. This value increased significantly to Rs 400 per sq.ft in the 2023 revision, marking a 49% increase from 2017. The 2024 revision maintained the same value of Rs 400 per sq.ft, resulting in no change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%. This consistent rise reflects the stability of the value in recent years, with the current rate remaining unchanged from 2023 to 2024.

Guideline values in Kaval Kazhani

In Kaval Kazhani, there are 20 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 226 to Rs 1,550 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Sri Nagar's 2024 figure above this median.

• Sri Sheshadhri Avenue: Rs 400 per sq.ft (2024)
• Suncity: Rs 300 per sq.ft (2024)
• Suncity I,II: Rs 300 per sq.ft (2024)
• Teachers VIP Layout: Rs 400 per sq.ft (2024)
• Thirumagal Nagar: Rs 226 per sq.ft (2024)
• SBI Staff colony: Rs 226 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, bringing the total cost for these fees to 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 Sri Nagar area falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kaval Kazhani. It serves as the benchmark for determining the applicable stamp duty and registration fees, which are calculated based on this value.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue from the transaction. Buyers and sellers should be aware of this value to understand the financial implications of their property dealings.

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 remained at Rs 400 per sq.ft since the 2023 revision, with a significant increase of 49% from Rs 268 per sq.ft in 2017.

What is the land classification for Sri Nagar?

Sri Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

Where is the Sunguvarchattram Sub Registrar Office located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 400 per sq.ft, the total fees would amount to Rs 36,000.