Guideline Value for Sri Rajeswari Nagar

Sri Rajeswari Nagar guideline value

The current guideline value of Sri Rajeswari Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Rajeswari Nagar has changed

The guideline value for Sri Rajeswari Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 355 per sq.ft. It then decreased to Rs 37 per sq.ft in 2003, followed by a significant increase to Rs 200 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 500 per sq.ft, but it then dropped to Rs 335 per sq.ft in 2017. The 2023 revision set the value at Rs 500 per sq.ft, with the latest 2024 revision increasing it to Rs 550 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the value decreased by 90%. The value then increased by 441% from 2003 to 2007. Following that, there was a 150% increase from 2007 to 2012. However, from 2012 to 2017, the value decreased by 33%. The value increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with the median value being Rs 550 per sq.ft. Sri Rajeswari Nagar's 2024 guideline value is equal to this median.

• Sri Ponniamman Nagar: Rs 820 per sq.ft (2024)
• Sri Pathmavathi Nagar (S.No.603/1): Rs 660 per sq.ft (2024)
• Sri Pathmavathi Nagar: Rs 660 per sq.ft (2024)
• Sri Pachayamman Nagar: Rs 550 per sq.ft (2024)
• Srinivasa Nagar Extension - II: Rs 550 per sq.ft (2024)
• Sri Sai Thirumal Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Rajeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. 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 Rajeswari Nagar?

The Sub Registrar Office that covers Sri Rajeswari 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 Pammathukulam

The guideline value plays a crucial role during the registration of property transactions in Pammathukulam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers need to pay when purchasing property in the area.

When a property is sold, the guideline value is used to determine the minimum value on which stamp duty is calculated. This ensures that the fees are based on a standardized value, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Rajeswari Nagar?

The current guideline value of Sri Rajeswari Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 355 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, with various increases and decreases in between.

What is the classification of land in Sri Rajeswari Nagar?

Sri Rajeswari Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

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

How is stamp duty calculated for properties in Sri Rajeswari Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.