Guideline Value for Srinath Nagar

Srinath Nagar guideline value

The current guideline value of Srinath Nagar is Rs 1,930 per sq.ft, effective from 1 July 2024. This area is located in Kolumanivakkam village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Srinath Nagar has changed

The guideline value for Srinath Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 1,173 per sq.ft, which increased to Rs 1,751 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,930 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft. The median guideline value for these streets is Rs 1,350 per sq.ft, placing Srinath Nagar's 2024 figure above that median.

• Srinivasa Nagar: Rs 880 per sq.ft (2024)
• Sri Maruthi Nagar: Rs 880 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,350 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 880 per sq.ft (2024)
• Sri Kamatchi Amman Nagar: Rs 1,350 per sq.ft (2024)
• Sri Kamachi Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Srinath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value would be Rs 19,30,000. The stamp duty, charged at 7%, would amount to Rs 1,35,100, while the registration fee at 2% would be Rs 38,600. Together, the total cost for stamp duty and registration would be Rs 1,73,700. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinath Nagar?

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

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

The guideline value is a critical factor when registering property transactions in Kolumanivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Srinath Nagar?

The current guideline value of Srinath Nagar is Rs 1,930 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,173 per sq.ft in 2017 to Rs 1,930 per sq.ft in 2024, reflecting a total increase of 65% over this period.

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

For a property valued at Rs 19,30,000, the stamp duty would be Rs 1,35,100 and the registration fee would be Rs 38,600, totaling Rs 1,73,700.

Which Sub Registrar Office covers Srinath Nagar?

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

What is the land classification for Srinath Nagar?

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