Guideline Value for Sri Saravana Nagar

Sri Saravana Nagar guideline value

The current guideline value of Sri Saravana Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Kunduperumpedu village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Saravana Nagar has changed

Over the years, the guideline value of Sri Saravana Nagar has seen several revisions. In 2012, the guideline value was set at Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision has maintained this figure, showing no change from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision stands at 0%, indicating that the value has returned to its 2012 level after fluctuations in between.

Guideline values in Kunduperumpedu

Kunduperumpedu village has a total of 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, which is equal to the current value of Sri Saravana Nagar.

• Sri Padmanaba Nagar: Rs 200 per sq.ft (2024)
• Sri Moogambikai Nagar: Rs 250 per sq.ft (2024)
• Sri Isvaryam Garden: Rs 300 per sq.ft (2024)
• Sky city: Rs 200 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 400 per sq.ft (2024)
• Shriradi Sai Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saravana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty is charged at 7%, which amounts to Rs 14,000, and the registration fee is charged at 2%, totaling Rs 4,000. Therefore, the total cost for stamp duty and registration fees would be Rs 18,000. 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 calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Saravana Nagar?

The Sub Registrar Office that covers Sri Saravana Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Kunduperumpedu. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It also helps in assessing the financial obligations that come with property ownership in the area.

Frequently asked questions

What is the current guideline value of Sri Saravana Nagar?

The current guideline value of Sri Saravana Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Sri Saravana Nagar has seen fluctuations, with a peak of Rs 200 per sq.ft in 2012, a drop to Rs 134 per sq.ft in 2017, and then rising back to Rs 200 per sq.ft in 2023 and 2024.

What are the registration fees for property in Sri Saravana Nagar?

The registration fees for property in Sri Saravana Nagar include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registrations in Kunduperumpedu?

The Sriperumpudur Sub Registrar Office handles property registrations in Kunduperumpedu. It is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the median guideline value for streets in Kunduperumpedu?

The median guideline value for streets in Kunduperumpedu is Rs 200 per sq.ft, which is the same as the current guideline value for Sri Saravana Nagar.