Guideline Value for Sri Saradha Nagar

Sri Saradha Nagar guideline value

The current guideline value of Sri Saradha Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sri Saradha Nagar has changed

The guideline value for Sri Saradha Nagar has seen several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft, which then increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% increase. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose sharply to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Sri Saradha Nagar.

• Sri Sakthi Nagar: Rs 2,750 per sq.ft (2024)
• Sri Sastha Nagar: Rs 2,750 per sq.ft (2024)
• Srirangam Nagar: Rs 3,300 per sq.ft (2024)
• Sri Ragavendra Nagar, Old Pallavaram: Rs 3,520 per sq.ft (2024)
• Station 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Station 1st Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saradha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Sri Saradha Nagar?

The Sub Registrar Office that covers Sri Saradha Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

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

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Saradha Nagar?

The current guideline value of Sri Saradha Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450% over the years.

What are the stamp duty and registration fees for properties in Sri Saradha Nagar?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers Sri Saradha Nagar?

Sri Saradha Nagar falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration price of a property. It is also the basis for calculating stamp duty and registration fees during the sale or purchase of a property.