Guideline Value for Sri Nagar

Sri Nagar guideline value

The current guideline value of Sri Nagar, located in Chettimedu village under the Redhills SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Nagar has changed

The guideline value of Sri Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 100 per sq.ft. This increased significantly to Rs 400 per sq.ft in both the 2012 and 2023 revisions. However, the 2017 revision saw a drop to Rs 268 per sq.ft. The most recent revision in 2024 marked a substantial increase to Rs 1,002 per sq.ft, reflecting a change of +151% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +902%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft. The median value is Rs 1,002 per sq.ft, which is the same as the current guideline value for Sri Nagar.

• Sri Dhanya lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Sri Uma Mageshwari Nagar: Rs 1,006 per sq.ft (2024)
• S. Radhakrishnan Nagar: Rs 1,000 per sq.ft (2024)
• Sornambigai Nagar: Rs 1,000 per sq.ft (2024)
• Suba Lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Santhose Colony: Rs 1,000 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 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total to Rs 90,180. It is important to note that 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 information.

Which Sub Registrar Office covers Sri Nagar?

The Sub Registrar Office that covers Sri Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Chettimedu. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring transparency in property dealings.

When a buyer or seller approaches the registration office, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. This helps in maintaining a standardized approach to property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Nagar?

The current guideline value of Sri Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 100 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, marking an overall increase of +902%.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 70,140, and the registration fee would be Rs 20,040, totaling Rs 90,180.

Which office handles registrations for properties in Sri Nagar?

The Redhills Sub Registrar Office handles registrations for properties in Sri Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

Are there other streets in Chettimedu with different guideline values?

Yes, there are other streets in Chettimedu with guideline values ranging from Rs 1,000 to Rs 1,008 per sq.ft, with the median value being Rs 1,002 per sq.ft.