Guideline Value for SriMathi Nagar

SriMathi Nagar guideline value

The current guideline value of SriMathi Nagar, located in Ulunthai village under the Sunguvarchattram SRO, is Rs 150 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of SriMathi Nagar has changed

Since the 2012 revision, the guideline value for SriMathi Nagar has seen various changes. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 150 per sq.ft. The 2017 revision saw a decrease to Rs 100 per sq.ft, marking a -33% change from the previous figure. However, from 2017 to 2023, there was a significant increase of +50%, bringing the value back to Rs 150 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 150 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ulunthai

In Ulunthai village, there are 27 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 426 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing SriMathi Nagar's 2024 figure at this median level.

• Sivan Kovil Street: Rs 150 per sq.ft (2024)
• Swathi Land: Rs 426 per sq.ft (2024)
• Swathi Nagar Phase I-IV: Rs 350 per sq.ft (2024)
• udaiyar Street: Rs 150 per sq.ft (2024)
• Sai Baba Street: Rs 150 per sq.ft (2024)
• Vadukar Colony: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in SriMathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the 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, totaling 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 SriMathi Nagar?

The Sub Registrar Office that covers SriMathi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is crucial when registering property transactions in Ulunthai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the process.

When a property is bought or sold, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as per the official register. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of SriMathi Nagar?

The current guideline value of SriMathi 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 remained at Rs 150 per sq.ft since 2012, except for a drop to Rs 100 per sq.ft in 2017. It then returned to Rs 150 per sq.ft in 2023 and has remained the same in 2024.

What are the other streets with guideline values in Ulunthai?

Other streets in Ulunthai have varying guideline values, with some streets like Swathi Land at Rs 426 per sq.ft and others like Sivan Kovil Street at Rs 150 per sq.ft in 2024.

How is stamp duty calculated in SriMathi Nagar?

Stamp duty in SriMathi Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 1,50,000 would incur a stamp duty of Rs 10,500.

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

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