Guideline Value for Sri Vishnu nagar

Sri Vishnu nagar guideline value

The current guideline value of Sri Vishnu Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village and falls under the Poonamallee Sub Registrar Office (SRO). The land classification for this region is Residential Class II Type - I.

How the guideline value of Sri Vishnu nagar has changed

The guideline value for Sri Vishnu Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a rise of 900%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, reflecting a drop of 33%. The subsequent revision in 2023 raised the value to Rs 2,000 per sq.ft, followed by the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which matches the current guideline value for Sri Vishnu Nagar.

• Sri Virushni Nagar: Rs 2,740 per sq.ft (2024)
• Sri Vigneswara Nagar: Rs 2,200 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 2,200 per sq.ft (2024)
• Sri Shrinivasa Nagar 536, 537, 538: Rs 2,200 per sq.ft (2024)
• Sumithra Nagar: Rs 2,200 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vishnu nagar?

Sri Vishnu Nagar is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Vishnu Nagar?

The current guideline value of Sri Vishnu Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 1000% over the years.

What are the stamp duty and registration fees for property in Sri Vishnu Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Sri Vishnu Nagar?

The Poonamallee Sub Registrar Office handles property registrations for Sri Vishnu Nagar. It is located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.

What is the land classification for Sri Vishnu Nagar?

The land classification for Sri Vishnu Nagar is Residential Class II Type - I, indicating its suitability for residential purposes.