Guideline Value for Sri Visalathchi Nagar

Sri Visalathchi Nagar guideline value

The current guideline value of Sri Visalathchi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kovur village under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Visalathchi Nagar has changed

The guideline value for Sri Visalathchi Nagar has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 1,500 per sq.ft. It then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following that, the value increased to Rs 1,500 per sq.ft in 2023 and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value experienced a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sri Visalathchi Nagar.

• Sri Vijayalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• S.R.S.Nagar: Rs 1,320 per sq.ft (2024)
• S.S. Nagar: Rs 1,650 per sq.ft (2024)
• Sri Vaishnavi Avenue & Extention I, II: Rs 1,650 per sq.ft (2024)
• Sri Thirumal Nagar: Rs 1,430 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Visalathchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Visalathchi Nagar?

The Sub Registrar Office that covers Sri Visalathchi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial component in the registration process when buying or selling property in Kovur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is considered along with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that all transactions are compliant with local regulations.

Frequently asked questions

What is the current guideline value of Sri Visalathchi Nagar?

The current guideline value of Sri Visalathchi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Sri Visalathchi Nagar?

Sri Visalathchi Nagar is classified as Residential Special Type - I.

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

The registration office for Sri Visalathchi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sri Visalathchi 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 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.