Guideline Value for Sri Vishnu Nagar

Sri Vishnu Nagar guideline value

The current guideline value of Sri Vishnu Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Vallam village, under the Sriperumpudur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sri Vishnu Nagar has changed

Over the years, the guideline value of Sri Vishnu Nagar has seen several revisions. The earliest recorded revision was in 2007, setting the value at Rs 50 per sq.ft. This increased to Rs 150 per sq.ft in 2012, followed by a decrease to Rs 100 per sq.ft in 2017. The value remained at Rs 150 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024, while the increase from 2017 to 2023 was 50%.

The register does not provide figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 reflects a significant increase of 200%, demonstrating the fluctuations in guideline values over the years.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 200 per sq.ft. Sri Vishnu Nagar's current value is below this median.

• Sri Venkatachalapathy Nagar: Rs 410 per sq.ft (2024)
• Subhsri Nagar: Rs 200 per sq.ft (2024)
• Sri Ram Nagar: Rs 150 per sq.ft (2024)
• Thideer Nagar: Rs 200 per sq.ft (2024)
• Thideer Nagar 1st Street: Rs 200 per sq.ft (2024)
• Thideer Nagar Cross Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vishnu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total cost Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vishnu Nagar?

The Sub Registrar Office that covers Sri Vishnu 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 Vallam

The guideline value plays a crucial role during the registration of property transactions in Vallam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sri Vishnu Nagar?

The current guideline value of Sri Vishnu Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent revision in 2024 maintaining the value at Rs 150 per sq.ft, the same as in 2023. The value was Rs 100 per sq.ft in 2017 and Rs 150 per sq.ft in 2012.

What is the land classification for Sri Vishnu Nagar?

Sri Vishnu Nagar is classified as Residential Class IV Type - I, indicating its designation for residential use within the area.

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

The Sub Registrar Office for Sri Vishnu Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 13,500.