Guideline Value for Sri Theagaraja Nagar

Sri Theagaraja Nagar guideline value

The current guideline value of Sri Theagaraja Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Theagaraja Nagar has changed

The guideline value for Sri Theagaraja Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from Rs 1,675 per sq.ft in 2017. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with the median being Rs 2,700 per sq.ft. The guideline value for Sri Theagaraja Nagar is equal to this median.

• Sri Theagarayar Street (Venkateswara Nagar): Rs 2,700 per sq.ft (2024)
• Sri Selva Vinayagar Nagar / Vinayagar Nagar: Rs 2,700 per sq.ft (2024)
• Sri Ram Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sri Ram Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sri Ram Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sri Ram nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Theagaraja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Theagaraja Nagar?

The Sub Registrar Office that covers Sri Theagaraja Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value will be assessed, and the applicable duties will be calculated based on this figure or the sale price, whichever is higher. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Sri Theagaraja Nagar?

The current guideline value of Sri Theagaraja Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, which is an 8% increase. It was Rs 1,675 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification of Sri Theagaraja Nagar?

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

What are the stamp duty rates for properties in Sri Theagaraja Nagar?

The stamp duty rate for properties in Sri Theagaraja Nagar is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Which office handles property registrations in Sri Theagaraja Nagar?

The Madhavaram Sub Registrar Office handles property registrations in Sri Theagaraja Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.