Guideline Value for Sri Nagaram

Sri Nagaram guideline value

The current guideline value of Sri Nagaram in Padiyanallur village is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Sri Nagaram has changed

The guideline value of Sri Nagaram has seen significant changes over the years. In 2003, the guideline value was Rs 43 per sq.ft, which increased dramatically to Rs 300 per sq.ft in 2007. Following this, the value doubled to Rs 600 per sq.ft in 2012, before decreasing to Rs 402 per sq.ft in 2017. In 2023, it rose to Rs 600 per sq.ft again, and the latest revision in 2024 set it at Rs 660 per sq.ft. Notably, the register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The most significant change occurred from 2003 to 2007, where the value surged by 598%. Overall, from 2003 to 2024, the guideline value has increased by 1435%.

Guideline values in Padiyanallur

Padiyanallur has 132 streets under the Redhills SRO, with guideline values in 2024 ranging from Rs 385 to Rs 2,750 per sq.ft, and the median value being Rs 770 per sq.ft. The guideline value of Sri Nagaram is below this median.

• Sri Elumalai Nagar: Rs 770 per sq.ft (2024)
• Subramaniya Bharathiyar Street: Rs 770 per sq.ft (2024)
• Sivakami Ammayar Street: Rs 770 per sq.ft (2024)
• Shenbagaraman Street: Rs 770 per sq.ft (2024)
• Shasthri Street: Rs 770 per sq.ft (2024)
• Teacher Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagaram

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Nagaram?

Sri Nagaram is covered by the Redhills Sub Registrar Office located at Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value may differ from the actual sale price.

When registering a property, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Nagaram?

The current guideline value of Sri Nagaram is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 43 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 1435% over the years.

What are the stamp duty and registration fees for properties in Sri Nagaram?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

Which Sub Registrar Office covers Sri Nagaram?

The Redhills Sub Registrar Office covers Sri Nagaram, located at Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Padiyanallur?

The median guideline value in Padiyanallur is Rs 770 per sq.ft, with Sri Nagaram's value being below this median.