Guideline Value for Sri Pathi Nagar

Sri Pathi Nagar guideline value

The current guideline value of Sri Pathi Nagar in Vilangadupakkam village is Rs 440 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I and it falls under the Redhills SRO.

How the guideline value of Sri Pathi Nagar has changed

The guideline value for Sri Pathi Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 18 per sq.ft, which increased significantly to Rs 200 per sq.ft by 2007, marking a change of +1,011%. The value then rose to Rs 400 per sq.ft in 2012, showing a 100% increase from the previous revision. However, it decreased to Rs 268 per sq.ft in 2017, reflecting a -33% change. The value then climbed back to Rs 400 per sq.ft in 2023, followed by a further increase to Rs 440 per sq.ft in 2024, which is a +10% change.

Overall, from 2003 to 2024, the guideline value has increased by +2,344%. The register has no figure for the year 2002 for this street.

Guideline values in Vilangadupakkam

Vilangadupakkam village has 160 streets under the Redhills SRO, with guideline values ranging from Rs 365 to Rs 1,792 per sq.ft. The median guideline value is Rs 440 per sq.ft, making the current value for Sri Pathi Nagar equal to this median.

• Sri Parthasarathy Nagar: Rs 440 per sq.ft (2024)
• Sri Ram Nagar: Rs 440 per sq.ft (2024)
• Sri Ram Nagar Annex - 1: Rs 440 per sq.ft (2024)
• Sri Roja Garden: Rs 440 per sq.ft (2024)
• Sri Sai Balaji Nagar: Rs 440 per sq.ft (2024)
• Sri Sai Krishna Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Pathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, together amounting to Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Pathi Nagar?

The Sub Registrar Office that covers Sri Pathi 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Vilangadupakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are payable when buying or selling property.

When a property is sold, the guideline value is used to determine the applicable stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Pathi Nagar?

The current guideline value of Sri Pathi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 18 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of +2,344% over the years.

What are the stamp duty rates for properties in Sri Pathi Nagar?

The stamp duty for properties in Sri Pathi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Pathi Nagar?

The Sub Registrar Office for Sri Pathi Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Sri Pathi Nagar?

The land classification for Sri Pathi Nagar is Residential Class III Type - I.