Guideline Value for Sri Vaari Nagar

Sri Vaari Nagar guideline value

The current guideline value of Sri Vaari Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Kilay village under the Sriperumpudur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Vaari Nagar has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 400 per sq.ft. The 2024 revision also maintains this value at Rs 400 per sq.ft, indicating no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 400 per sq.ft.

Guideline values in Kilay

In Kilay, there are 31 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which means Sri Vaari Nagar's guideline value is above that median.

• Teja's The Retreat: Rs 300 per sq.ft (2024)
• Sri Mahaganapathy Nagar: Rs 400 per sq.ft (2024)
• Sri Krishna Nagar: Rs 400 per sq.ft (2024)
• Theruveedhiyamman Koil Street: Rs 150 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 400 per sq.ft (2024)
• Vasinavi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vaari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. 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 Vaari Nagar?

The Sub Registrar Office that covers Sri Vaari 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Kilay. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Vaari Nagar?

The current guideline value of Sri Vaari Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining it at Rs 400 per sq.ft. Notably, it was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification for Sri Vaari Nagar?

Sri Vaari Nagar is classified as Residential Special Type - I under the land classification system.

Which registration office covers Sri Vaari Nagar?

The Sriperumpudur Sub Registrar Office covers Sri Vaari Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Vaari Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 400 per sq.ft would incur a total stamp duty of Rs 28,000.