Guideline Value for Sri Sangeetham Nagar

Sri Sangeetham Nagar guideline value

The current guideline value of Sri Sangeetham Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Baraniputjur village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Sri Sangeetham Nagar has changed

The guideline value for Sri Sangeetham Nagar has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012. However, it decreased to Rs 737 per sq.ft in 2017, before rising again to Rs 1,100 per sq.ft in 2023. The current revision in 2024 shows a further increase to Rs 1,210 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 is 10%. The overall change from 2007 to 2024 reflects a substantial increase of 384% in the guideline value.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 2,500 per sq.ft, with the median being Rs 1,210 per sq.ft. The guideline value for Sri Sangeetham Nagar matches this median.

• Sri Venkateswara Nagar: Rs 1,210 per sq.ft (2024)
• Subbaraya Nagar: Rs 1,210 per sq.ft (2024)
• Sri Kamatchi Avenue: Rs 1,450 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 1,210 per sq.ft (2024)
• Surya Avenue Phase - I: Rs 1,870 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sangeetham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees to Rs 1,08,900. 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 Sangeetham Nagar?

The Sub Registrar Office that covers Sri Sangeetham Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Baraniputjur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of Sri Sangeetham Nagar?

The current guideline value of Sri Sangeetham Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 384% over the years.

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

For a 1,000 sq.ft property, the total guideline value is Rs 12,10,000. The stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Which Sub Registrar Office covers this area?

The Kunrathur Sub Registrar Office covers Sri Sangeetham Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Sri Sangeetham Nagar?

Sri Sangeetham Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.