Guideline Value for SriKumaran Nagar

SriKumaran Nagar guideline value

The current guideline value of SriKumaran Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Malaipattu village under the Sunguvarchattram SRO, classified as Residential Special Type - II.

How the guideline value of SriKumaran Nagar has changed

Looking at the revisions, the guideline value for SriKumaran Nagar has seen several changes over the years. In 2007, the value was Rs 150 per sq.ft, which increased to Rs 300 per sq.ft in 2012, marking a 100% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 201 per sq.ft. The subsequent revision in 2023 maintained this figure at Rs 300 per sq.ft, and the latest 2024 revision also holds the value at Rs 300 per sq.ft, indicating no change from the previous year.

Between the years 2017 and 2023, there was a significant increase of 49%, bringing the value back to Rs 300 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 100% from Rs 150 to Rs 300 per sq.ft.

Guideline values in Malaipattu

Malaipattu village has 36 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,181 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing SriKumaran Nagar's 2024 figure above this median.

• Sri Saravana Nagar: Rs 200 per sq.ft (2024)
• Teachers Chennai Fair Land: Rs 300 per sq.ft (2024)
• Thambaram-Sriperumbudur Salai(Pazhavathamman kovil to Bustop): Rs 441 per sq.ft (2024)
• Thirumallai Nayakar Street: Rs 150 per sq.ft (2024)
• Thriuveethiamman Street: Rs 150 per sq.ft (2024)
• RLN Metro Square: Rs 1,181 per sq.ft (2024)

Stamp duty and registration fee for property in SriKumaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It's important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SriKumaran Nagar?

The Sub Registrar Office that covers SriKumaran Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Malaipattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This value is used to calculate the applicable taxes and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of SriKumaran Nagar?

The current guideline value of SriKumaran Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 300 per sq.ft, the same as in 2023. The value was Rs 201 per sq.ft in 2017, and Rs 300 per sq.ft in 2012.

What is the land classification of SriKumaran Nagar?

SriKumaran Nagar is classified as Residential Special Type - II, which influences its guideline value and usage.

What are the stamp duty rates for properties in SriKumaran Nagar?

The stamp duty for properties in SriKumaran Nagar is 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for SriKumaran Nagar?

The Sub Registrar Office for SriKumaran Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone. You can find more details online.