Guideline Value for Sri Srinivasa Nagar

Sri Srinivasa Nagar guideline value

The current guideline value of Sri Srinivasa Nagar is Rs 450 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village, under the Kunrathur SRO, and is classified as Residential Class I Type - IV.

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 most recent revision in 2024 set the value at Rs 450 per sq.ft, which reflects a 12% increase from the 2023 revision of Rs 402 per sq.ft. Prior to that, the 2017 revision recorded a higher value of Rs 536 per sq.ft, indicating a decrease of 25% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the current 2024 figure, there has been a decline of 16%. This trend illustrates the fluctuations in the guideline value over the years, with the most significant change occurring between 2017 and 2023.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value for Sri Srinivasa Nagar is below this median.

• Sri Ranganathar Nagar: Rs 935 per sq.ft (2024)
• Sri Ramiah Nagar: Rs 935 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 935 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,210 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 880 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 450 per sq.ft, the total guideline value amounts to Rs 4,50,000. The stamp duty at 7% would be Rs 31,500, and the registration fee at 2% would be Rs 9,000, leading to a total cost of Rs 40,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property transaction occurs, the guideline value helps establish the minimum value on which these fees are calculated. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning during the transaction process.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Nagar?

The current guideline value of Sri Srinivasa Nagar is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has decreased overall by 16%. The most recent revision in 2024 shows an increase of 12% from the previous year, 2023.

What is the land classification for Sri Srinivasa Nagar?

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

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

The Sub Registrar Office for Sri Srinivasa Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all registration processes for properties in the area.

How is 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, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 31,500.