Guideline Value for Sri Nidhi Nagar

Sri Nidhi Nagar guideline value

The current guideline value of Sri Nidhi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Sri Nidhi Nagar has changed

The guideline value of Sri Nidhi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a notable increase of 49%. However, between 2012 and 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, which indicates that Sri Nidhi Nagar's 2024 figure is below that median.

• Sri Meenakshi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 2,640 per sq.ft (2024)
• Sri Lingam Apartments: Rs 2,310 per sq.ft (2024)
• Srinivasa Perumal Sannathi Street: Rs 2,640 per sq.ft (2024)
• Sri Lakshmi Enclave: Rs 1,650 per sq.ft (2024)
• Sri Lakshmi Apartments: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nidhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Nidhi Nagar?

The Sub Registrar Office that covers Sri Nidhi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Perungalathur. It serves as a benchmark for determining the minimum sale price of a property, ensuring that the transaction is recorded accurately in the government registry.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, which impacts the overall financial commitment involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Nidhi Nagar?

The current guideline value of Sri Nidhi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase of 10% from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024. The value has also increased by 49% from 2017 to 2023.

Where can I find the registration office for Sri Nidhi Nagar?

The registration office for Sri Nidhi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,78,200.

What is the land classification for Sri Nidhi Nagar?

Sri Nidhi Nagar is classified as Residential Class III Type - I, indicating its designation for residential development.