Guideline Value for Sri Vari Nagar

Sri Vari Nagar guideline value

The current guideline value of Sri Vari Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Vadakal_C village under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Sri Vari Nagar has changed

Since the register has no figure for this street in 2002, 2003, 2007, 2012, and 2017, the first available revision is from 2023, where the guideline value was Rs 300 per sq.ft. In the 2024 revision, the guideline value increased to Rs 400 per sq.ft, marking a change of +33% from the previous year.

This current figure of Rs 400 per sq.ft is significant as it aligns with the median guideline value for the 61 streets in Vadakal_C under the Sriperumpudur SRO, which ranges from Rs 150 to Rs 1,500 per sq.ft. The 2023 revision was the first recorded value for Sri Vari Nagar, and the increase in 2024 reflects the current median for the area.

Guideline values in Vadakal_C

In Vadakal_C, the guideline values for various streets range from Rs 150 to Rs 1,500 per sq.ft, with a median value of Rs 400 per sq.ft. Sri Vari Nagar's 2024 guideline value matches this median, indicating its positioning among the other streets in the area.

• Sri sathya sai Nagar: Rs 500 per sq.ft (2024)
• Sri Ramanuja Residency lay out: Rs 550 per sq.ft (2024)
• Sriperumpudur Chengalpattu Road: Rs 600 per sq.ft (2024)
• Sri Madha Nagar: Rs 500 per sq.ft (2024)
• Thalaiyari Street: Rs 150 per sq.ft (2024)
• Theepanji Amman Koil Street: Rs 150 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 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, resulting in Rs 28,000, while the registration fee is 2%, amounting to Rs 8,000. Together, the total cost for stamp duty and registration fee is Rs 36,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vari Nagar?

The Sub Registrar Office that covers Sri Vari 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 Vadakal_C

The guideline value is an essential factor in the registration process when buying or selling property in Vadakal_C. It determines the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Vari Nagar?

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

How has the guideline value changed over the years?

The guideline value for Sri Vari Nagar has changed from Rs 300 per sq.ft in 2023 to Rs 400 per sq.ft in 2024, reflecting a +33% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Vadakal_C?

The median guideline value in Vadakal_C is Rs 400 per sq.ft, which is also the current guideline value for Sri Vari Nagar in 2024.

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

The stamp duty for properties in Sri Vari Nagar is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

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

The Sub Registrar Office for Sri Vari Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information about your SRO online.