Guideline Value for Sridevi Nagar

Sridevi Nagar guideline value

The current guideline value of Sridevi Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Sridevi Nagar has changed

The guideline value for Sridevi Nagar has seen several revisions over the years. In 2003, the value was set at Rs 136 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. Following that, the value rose dramatically to Rs 3,000 per sq.ft in 2012, but then experienced a decrease to Rs 2,010 per sq.ft in 2017. The value increased again to Rs 3,000 per sq.ft in 2023, and finally reached the current rate of Rs 3,300 per sq.ft in 2024.

Notably, there is no figure for Sridevi Nagar in the 2002 revision. The changes between the revisions include a 341% increase from 2003 to 2007, a 400% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 2326%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with the median being Rs 3,300 per sq.ft. The guideline value of Sridevi Nagar is equal to this median.

• Sridevi Amman Street: Rs 2,160 per sq.ft (2024)
• Sri Elumalaiyan Nagar: Rs 2,750 per sq.ft (2024)
• Sri Bharath Nagar: Rs 2,750 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 3,520 per sq.ft (2024)
• Sri Badhrakaliamman Nagar: Rs 3,300 per sq.ft (2024)
• South Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sridevi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sridevi Nagar?

Sridevi Nagar falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Zaminpallavaram, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the stamp duty and registration fees payable at the time of sale.

When registering a property, the guideline value serves as a benchmark for calculating the applicable fees. It ensures that the government receives the appropriate revenue from property transactions, reflecting the official value of real estate in the area.

Frequently asked questions

What is the current guideline value of Sridevi Nagar?

The current guideline value of Sridevi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 136 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with notable increases and decreases in between.

What is the land classification of Sridevi Nagar?

Sridevi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates applicable in Sridevi Nagar?

The stamp duty rate in Sridevi Nagar is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.