Guideline Value for Sri Narayana nagar

Sri Narayana nagar guideline value

The current guideline value of Sri Narayana nagar is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Nenmeli village under the Chengleput Joint I SRO and is classified as Mixed Type - II land.

How the guideline value of Sri Narayana nagar has changed

Since the 2012 revision, the guideline value for Sri Narayana nagar has seen various changes. In 2012, the value was Rs 750 per sq.ft, which decreased to Rs 502 per sq.ft in 2017. The value then increased significantly to Rs 800 per sq.ft in both the 2023 and 2024 revisions, reflecting a 59% increase from 2017 to 2023 and no change from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 7%. The 2024 value of Rs 800 per sq.ft is higher than the median guideline value of Rs 612 per sq.ft for the 53 streets in Nenmeli under the Chengleput Joint I SRO.

Guideline values in Nenmeli

Nenmeli village features a range of guideline values, with figures for 2024 ranging from Rs 400 to Rs 2,500 per sq.ft. The current guideline value of Sri Narayana nagar is above the median of Rs 612 per sq.ft. Below are other streets in Nenmeli:

• SriKumaran nagar: Rs 550 per sq.ft (2024)
• Srm Avenue Phase-I: Rs 1,120 per sq.ft (2024)
• Srm Avenue Phase-II: Rs 1,120 per sq.ft (2024)
• Srm City: Rs 600 per sq.ft (2024)
• SRM Garden Phase - I: Rs 612 per sq.ft (2024)
• SRM Garden Phase II: Rs 612 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Narayana nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, leading to a total of Rs 72,000. 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 details.

Which Sub Registrar Office covers Sri Narayana nagar?

The Sub Registrar Office that covers Sri Narayana nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Nenmeli, as it determines the amount of stamp duty and registration fees that need to be paid. Buyers and sellers must ensure that the transaction reflects the guideline value to comply with legal requirements during registration.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately, and the government receives the necessary revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Narayana nagar?

The current guideline value of Sri Narayana nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023 and 2024.

What is the land classification of Sri Narayana nagar?

Sri Narayana nagar is classified as Mixed Type - II land under the Chengleput Joint I SRO.

What are the stamp duty and registration fees for property in Sri Narayana nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot valued at Rs 8,00,000, the total fees would amount to Rs 72,000.

Which Sub Registrar Office covers Nenmeli village?

The Chengleput Joint I Sub Registrar Office covers Nenmeli village, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.