Guideline Value for Sri Rajeswari nagar

Sri Rajeswari nagar guideline value

The current guideline value of Sri Rajeswari nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and 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. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 900%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by another rise to the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%, reflecting significant fluctuations over the years.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the current guideline value of Sri Rajeswari nagar.

• Sri Rajeshwari Nagar: Rs 2,200 per sq.ft (2024)
• Sri Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sri Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar 2nd Cross Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on the fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Rajeswari nagar?

The Sub Registrar Office that covers Sri Rajeswari nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When registering a property, the guideline value is utilized to determine the stamp duty and registration fees. This ensures that both parties in a transaction are aware of the costs involved and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Sri Rajeswari nagar?

The current guideline value of Sri Rajeswari nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What are the stamp duty rates for property in Sri Rajeswari nagar?

The stamp duty for property in Sri Rajeswari nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Sri Rajeswari nagar?

The Sub Registrar Office for Sri Rajeswari nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the guideline value determined in Poonthamallee?

The guideline value in Poonthamallee is determined based on various revisions recorded in the registration department's guideline value register, reflecting changes in property values over time.