Guideline Value for Sri Vari Nagar

Sri Vari Nagar guideline value

The current guideline value of Sri Vari Nagar, located in Atanancheri village under the Gooduvancheri SRO, is Rs 600 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - I.

How the guideline value of Sri Vari Nagar has changed

Since the 2012 revision, the guideline value for Sri Vari Nagar has seen various changes. In 2012, the guideline value was Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a decrease to Rs 402 per sq.ft. By the 2023 revision, the value increased to Rs 600 per sq.ft, which was maintained in the 2024 revision, showing no percentage change between these two years. Notably, the register has no figure for this street in the revisions of 2002, 2003, and 2007.

When examining the changes, the most significant increase occurred between the 2017 and 2023 revisions, with a rise of 49%. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 600 per sq.ft.

Guideline values in Atanancheri

In Atanancheri, there are a total of 83 streets under the Gooduvancheri SRO, with guideline values for 2024 ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Sri Vari Nagar's 2024 figure below this median.

• Sri Srinivasa Nagar: Rs 500 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 800 per sq.ft (2024)
• Subashree Nagar: Rs 670 per sq.ft (2024)
• Subashree Nagar Extension: Rs 1,000 per sq.ft (2024)
• Sri Ranganathar Nagar: Rs 800 per sq.ft (2024)
• Sri Ram Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vari Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Vari Nagar. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Atanancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers should be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher, which emphasizes the importance of understanding the current guideline value.

Frequently asked questions

What is the current guideline value of Sri Vari Nagar?

The current guideline value of Sri Vari Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023 and 2024, showing a 49% increase from 2017 to 2023.

What is the land classification for Sri Vari Nagar?

Sri Vari Nagar is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the registration office for Sri Vari Nagar?

The registration office for Sri Vari Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Vari Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,00,000, the stamp duty at 7% would be Rs 42,000, along with a registration fee of Rs 12,000, totaling Rs 54,000.