Guideline Value for Sridhar Nagar

Sridhar Nagar guideline value

The current guideline value of Sridhar Nagar, located in Sholavaram village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Sridhar Nagar has changed

The guideline value for Sridhar Nagar has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it saw a decrease of 33% to Rs 335 per sq.ft in 2017. The value then rose by 49% to Rs 500 per sq.ft in 2023, and most recently, it increased by 10% to Rs 550 per sq.ft in 2024.

There are no figures available in the register for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Sridhar Nagar is below this median.

• Sri Chengalamman Garden: Rs 550 per sq.ft (2024)
• Sri Krishna Avenue: Rs 1,320 per sq.ft (2024)
• Sri Lakshmi Ganapathy Nagar: Rs 515 per sq.ft (2024)
• Sri Amman Nagar: Rs 770 per sq.ft (2024)
• Srinivasa Nagar Annex: Rs 550 per sq.ft (2024)
• Sri Ragavendra Modern Town: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sridhar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sridhar Nagar?

The Sub Registrar Office that covers Sridhar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities assess the guideline value to ensure that the transaction reflects a fair value for taxation purposes. This helps to maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sridhar Nagar?

The current guideline value of Sridhar 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 significantly from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, with various increases and a decrease in between.

What is the registration office for Sridhar Nagar?

The registration office for Sridhar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sridhar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%.

What are the guideline values for other streets in Sholavaram?

Other streets in Sholavaram have guideline values ranging from Rs 515 to Rs 3,500 per sq.ft. For instance, Sri Krishna Avenue has a value of Rs 1,320 per sq.ft, while Sri Lakshmi Ganapathy Nagar is at Rs 515 per sq.ft.