Guideline Value for Sri Srinivasa Nagar

Sri Srinivasa Nagar guideline value

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

How the guideline value of Sri Srinivasa Nagar has changed

The guideline value for Sri Srinivasa Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 134 per sq.ft, which remained unchanged in the 2023 revision. With the 2024 revision, the guideline value increased to Rs 200 per sq.ft, reflecting a 49% increase from the 2017 value. Notably, there were no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, the guideline value remained stable with a 0% change. Overall, the increase from 2017 to 2024 stands at 49%, indicating a significant adjustment in the guideline value over this period.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,254 per sq.ft. The median guideline value for the area is Rs 300 per sq.ft, placing Sri Srinivasa Nagar's 2024 figure below this median.

• Sri Ramanujar Town: Rs 300 per sq.ft (2024)
• Sri Ramanujar Nagar: Rs 300 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 400 per sq.ft (2024)
• Sri Parasuram Nagar: Rs 700 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 200 per sq.ft (2024)
• Sri Hari Krishna Nagar: Rs 400 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 further assistance.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value plays a crucial role in the registration process when buying or selling property in Pillaippakkam-A. It is used to determine the applicable stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the Registration Department.

When a property transaction occurs, the guideline value is assessed to ascertain the correct fees that need to be paid. This ensures transparency and fairness in property dealings, providing a standardized measure for property valuation in the area.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Nagar?

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

How has the guideline value changed over the years?

The guideline value increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2024, marking a 49% increase. There were no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

What is the land classification of Sri Srinivasa Nagar?

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

What are the guideline values of other streets in Pillaippakkam-A?

Other streets in Pillaippakkam-A have varying guideline values, with rates ranging from Rs 100 to Rs 1,254 per sq.ft. The median value for the area is Rs 300 per sq.ft, with Sri Srinivasa Nagar's value below this median.

Where can I find the Sub Registrar Office for Sri Srinivasa Nagar?

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.