Guideline Value for Sri Vetri Nagar

Sri Vetri Nagar guideline value

The current guideline value of Sri Vetri Nagar, located in Manimangalam A village under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Vetri Nagar has changed

The guideline value for Sri Vetri Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase from Rs 800 per sq.ft in 2023, marking a change of 10%. Prior to that, the 2017 revision recorded the value at Rs 536 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has risen by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, a total of 112 streets fall under the Padappai SRO, with guideline values ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value is Rs 880 per sq.ft, which is equal to the current value of Sri Vetri Nagar.

• Sri Sri Hariharan Nagar: Rs 550 per sq.ft (2024)
• Sri Ram Nagar: Rs 770 per sq.ft (2024)
• Sri Rajagopala Swamy Sannathi Street: Rs 880 per sq.ft (2024)
• SVS Nagar: Rs 1,430 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 880 per sq.ft (2024)
• Sri Lakshmi Nagar Extn: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vetri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these charges to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Vetri Nagar?

The Sri Vetri Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Manimangalam A. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When registering a property, the guideline value is considered to ensure that the correct fees are calculated. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Vetri Nagar?

The current guideline value of Sri Vetri Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, an overall increase of 64%. The value was Rs 800 per sq.ft in 2023, marking a 10% increase from the previous year.

What is the land classification of Sri Vetri Nagar?

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

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.