Guideline Value for Sri Srinivasa Nagar

Sri Srinivasa Nagar guideline value

The current guideline value of Sri Srinivasa Nagar, located in Maakaanyam village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Srinivasa Nagar has changed

Over the years, the guideline value for Sri Srinivasa Nagar has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 300 per sq.ft. The 2024 revision has maintained this rate, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 300 per sq.ft.

Guideline values in Maakaanyam

In Maakaanyam village, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 600 per sq.ft, with a median value of Rs 250 per sq.ft. Sri Srinivasa Nagar's guideline value of Rs 300 per sq.ft is above this median.

• Sri Premkavaradhan Nagar: Rs 300 per sq.ft (2024)
• Sri Padmanaba Samy Nagar: Rs 600 per sq.ft (2024)
• Sri Nagar: Rs 200 per sq.ft (2024)
• Sri Murugan City: Rs 300 per sq.ft (2024)
• Sri Kalyana Srinivasaperumal koil street: Rs 400 per sq.ft (2024)
• Sri Hari balaji nagar: Rs 300 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total cost for these fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 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 Maakaanyam

The guideline value plays a crucial role during the registration of property transactions in Maakaanyam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on an official valuation rather than the sale price alone.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Buyers and sellers should consult the guideline value register to understand the applicable rates for their specific property location.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining the value at Rs 300 per sq.ft, unchanged from 2023. The value increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

What is the land classification for Sri Srinivasa Nagar?

Sri Srinivasa Nagar is classified as Residential Special Type - I. This classification is important for determining the applicable guidelines and regulations for property in the area.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 3,00,000, the total fees would amount to Rs 27,000.

Where is the Sub Registrar Office for Sri Srinivasa Nagar located?

The Sub Registrar Office for Sri Srinivasa Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.