Guideline Value for Srichakra Nagar part I

Srichakra Nagar part I guideline value

The current guideline value of Srichakra Nagar part I is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village under the Kunrathur SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Srichakra Nagar part I has changed

The guideline value for Srichakra Nagar part I has seen significant changes over the years. In the 2017 revision, the value was Rs 938 per sq.ft. This increased to Rs 1,400 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,540 per sq.ft, which is a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In the village of Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Srichakra Nagar part I's current value below that median.

• Sri Chakra Nagar Ist Road to 25th Road: Rs 2,200 per sq.ft (2024)
• Sri Chakra Nagar Part II: Rs 2,200 per sq.ft (2024)
• Sri Chakra Nagar Part V: Rs 2,200 per sq.ft (2024)
• Sri Chakra Nagar Part VI: Rs 2,200 per sq.ft (2024)
• Sri Guru Avenue: Rs 2,350 per sq.ft (2024)
• Sri Ashok Avenue: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Srichakra Nagar part I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, making the total cost for these fees Rs 1,38,600. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Srichakra Nagar part I?

The Sub Registrar Office that covers Srichakra Nagar part I is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor when buying or selling property in Mangadu -A, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the property transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of property transactions and ensures compliance with the registration requirements set by the government.

Frequently asked questions

What is the current guideline value of Srichakra Nagar part I?

The current guideline value of Srichakra Nagar part I is Rs 1,540 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, from Rs 938 per sq.ft to Rs 1,540 per sq.ft in 2024.

What is the stamp duty rate applicable in Srichakra Nagar part I?

The stamp duty rate applicable in Srichakra Nagar part I is 7% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the guideline values of other streets in Mangadu -A?

Other streets in Mangadu -A have guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft, with the median being Rs 1,870 per sq.ft.