Guideline Value for Sri Nagar

Sri Nagar guideline value

The current guideline value of Sri Nagar, located in Kattupakkam village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Nagar has changed

The guideline value of Sri Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 136 per sq.ft, which increased to Rs 450 per sq.ft in 2007. The 2012 revision recorded a value of Rs 1,900 per sq.ft, but this dropped to Rs 1,273 per sq.ft in 2017. The value then rose sharply to Rs 1,900 per sq.ft in 2023, before reaching the current value of Rs 2,090 per sq.ft in 2024.

From 2017 to 2023, there was a substantial increase of 49%. The 2023 to 2024 revision saw a further increase of 10%. Overall, from the 2003 revision to the current 2024 figure, there has been an increase of 1,437%.

Guideline values in Kattupakkam

In Kattupakkam, there are 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the current guideline value of Sri Nagar.

• Sri P.G. Avenue: Rs 1,980 per sq.ft (2024)
• Sri Devi Nagar: Rs 2,090 per sq.ft (2024)
• Sri Arul Avenue: Rs 2,090 per sq.ft (2024)
• Sun Garden: Rs 3,520 per sq.ft (2024)
• Swarnapuri Nagar: Rs 3,520 per sq.ft (2024)
• Senthurpuram Extension II: Rs 3,960 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, making the total charges Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Nagar?

The Sub Registrar Office that covers Sri Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kattupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. The fees are charged based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Nagar?

The current guideline value of Sri Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 136 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, representing an overall increase of 1,437%.

What is the registration fee for property in Sri Nagar?

The registration fee is calculated at 2% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator.