Guideline Value for Sri Srinivasa Nagar

Sri Srinivasa Nagar guideline value

The current guideline value of Sri Srinivasa Nagar, located in Kovur village under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. This area falls under the Mixed Type - I land classification.

How the guideline value of Sri Srinivasa Nagar has changed

The guideline value for Sri Srinivasa Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a substantial rise of 420%. However, it then decreased to Rs 871 per sq.ft in 2017, a drop of 33%. The value saw a notable increase again, reaching Rs 1,300 per sq.ft in 2023, and then further rising to Rs 1,430 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 472%.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Sri Srinivasa Nagar is below this median.

• Sri Thirumal Nagar: Rs 1,430 per sq.ft (2024)
• Sri Vaishnavi Avenue & Extention I, II: Rs 1,650 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Sai Garden: Rs 2,300 per sq.ft (2024)
• Sri Visalathchi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Sai Balaji Avenue: Rs 3,300 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, making the total cost for these fees Rs 1,28,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Srinivasa Nagar?

The Sub Registrar Office that covers Sri Srinivasa Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kovur. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, buyers and sellers must be aware that the stamp duty is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Nagar?

The current guideline value of Sri Srinivasa Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 250 per sq.ft in 2007, increasing to Rs 1,300 in 2012, then decreasing to Rs 871 in 2017, and rising to Rs 1,300 in 2023, before reaching Rs 1,430 in 2024.

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

For a 1,000 sq.ft plot, the guideline value is Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, totaling Rs 1,28,700 for these fees.

Which office handles property registrations in Sri Srinivasa Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Sri Srinivasa Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value determined for property transactions?

The guideline value is determined by the local registration department and serves as a standard for calculating stamp duty and registration fees during property transactions. It reflects the minimum price at which properties can be registered in the area.