Guideline Value for SriKumaran nagar

SriKumaran nagar guideline value

The current guideline value of SriKumaran nagar in Nenmeli village is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of SriKumaran nagar has changed

Over the years, the guideline value for SriKumaran nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 100 per sq.ft. This increased significantly to Rs 550 per sq.ft in 2012, then decreased to Rs 368 per sq.ft in 2017. The 2023 revision maintained the value at Rs 550 per sq.ft, and the 2024 revision also holds the same figure. Notably, the register has no figure for this street in 2002 and 2003.

From 2007 to 2012, the guideline value increased by 450%. However, from 2012 to 2017, there was a decrease of 33%. The value then rose by 49% from 2017 to 2023, and from 2023 to 2024, there was no change. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Nenmeli

Nenmeli village has 53 streets under the Chengleput Joint I SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 612 per sq.ft, placing SriKumaran nagar's 2024 figure below this median.

• Sri Narayana nagar: Rs 800 per sq.ft (2024)
• Srm Avenue Phase-I: Rs 1,120 per sq.ft (2024)
• Srm Avenue Phase-II: Rs 1,120 per sq.ft (2024)
• Srm City: Rs 600 per sq.ft (2024)
• SRM Garden Phase - I: Rs 612 per sq.ft (2024)
• SRM Garden Phase II: Rs 612 per sq.ft (2024)

Stamp duty and registration fee for property in SriKumaran nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, totaling Rs 38,500, while the registration fee is 2%, amounting to Rs 11,000. Together, the total cost for these fees is Rs 49,500. It is important to note that 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 SriKumaran nagar?

The Sub Registrar Office that covers SriKumaran nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nenmeli. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the fees. This ensures that the government receives appropriate revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of SriKumaran nagar?

The current guideline value of SriKumaran nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2007 to Rs 550 per sq.ft in 2012, then decreasing to Rs 368 per sq.ft in 2017, and remaining at Rs 550 per sq.ft in 2023 and 2024.

What is the land classification of SriKumaran nagar?

SriKumaran nagar is classified as Residential Special Type - I under the Chengleput Joint I SRO.

What are the stamp duty and registration fees for property in SriKumaran nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a plot of 1,000 sq.ft, the total fees amount to Rs 49,500.

Which office handles registrations for SriKumaran nagar?

The Chengleput Joint I Sub Registrar Office handles registrations for SriKumaran nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.