Guideline Value for Srimathi Nagar

Srimathi Nagar guideline value

The current guideline value of Srimathi Nagar, located in Thirunageswaram village under the Kunrathur SRO, is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Srimathi Nagar has changed

Over the years, the guideline value for Srimathi Nagar has seen several revisions. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced to Rs 938 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,400 per sq.ft in 2023, and currently stands at Rs 1,550 per sq.ft as per the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest change from 2023 to 2024 reflects an increase of 11%. Overall, the guideline value has increased by 11% from 2012 to 2024.

Guideline values in Thirunageswaram

In Thirunageswaram, a total of 105 streets under the Kunrathur SRO have a guideline value for 2024 ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,550 per sq.ft, which matches the current guideline value of Srimathi Nagar.

• Sri Vembuli Amman Nagar: Rs 1,550 per sq.ft (2024)
• Sembarambakkam Erikarai Street: Rs 1,550 per sq.ft (2024)
• Sembadava (Or)Meenavar Street: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thiruneelakandar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thirumoolar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thilagavathiar Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Srimathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srimathi Nagar?

The Sub Registrar Office covering Srimathi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Thirunageswaram. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. It is essential for buyers and sellers to be aware of the current guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Srimathi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then increased to Rs 1,400 per sq.ft in 2023, and is currently Rs 1,550 per sq.ft as of 2024.

What is the land classification of Srimathi Nagar?

Srimathi Nagar is classified as Residential Special Type - II, indicating its suitability for residential developments.

What are the stamp duty and registration fees for a property in Srimathi Nagar?

For a property valued at Rs 15,50,000, the stamp duty would be Rs 1,08,500 and the registration fee would be Rs 31,000, totaling Rs 1,39,500.

Which office handles property registrations in Srimathi Nagar?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles property registrations for Srimathi Nagar.