Guideline Value for Sri Srinivasa Nagar

Sri Srinivasa Nagar guideline value

The current guideline value of Sri Srinivasa Nagar, located in Atanancheri village under the Gooduvancheri SRO, is Rs 500 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Srinivasa Nagar has changed

Over the years, the guideline value of Sri Srinivasa Nagar has experienced several revisions. In 2007, the value was Rs 120 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then saw a decrease to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 both maintained the guideline value at Rs 500 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was an increase of 49%, and from 2007 to 2012, the value rose by 317%. Overall, from 2007 to 2024, the guideline value has increased by 317%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Atanancheri

In Atanancheri village, there are 83 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Sri Srinivasa Nagar is below this median.

• Sri Vari Nagar: Rs 600 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 800 per sq.ft (2024)
• Sri Ranganathar Nagar: Rs 800 per sq.ft (2024)
• Subashree Nagar: Rs 670 per sq.ft (2024)
• Subashree Nagar Extension: Rs 1,000 per sq.ft (2024)
• Sri Ram Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Srinivasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total cost to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Srinivasa Nagar?

The Sub Registrar Office that covers Sri Srinivasa Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Atanancheri. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Nagar?

The current guideline value of Sri Srinivasa Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the land classification for Sri Srinivasa Nagar?

Sri Srinivasa Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Srinivasa Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000, leading to a stamp duty of Rs 35,000.