Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has seen several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 1,005 per sq.ft. This remained unchanged at Rs 1,500 per sq.ft in the 2023 revision and again in the 2024 revision, indicating a 49% increase from 2017 to 2023 and a consistent value from 2023 to 2024.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The overall change from the 2017 revision to the 2024 revision is also a 49% increase.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value for Srinivasa Nagar.

• Srinivasa Avenue: Rs 1,200 per sq.ft (2024)
• Srinivasapuram: Rs 2,001 per sq.ft (2024)
• Srinu Prabhu Nagar: Rs 2,001 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Sriram Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000. Together, the total cost for stamp duty and registration would be Rs 1,35,000. 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 Srinivasa Nagar?

The Sub Registrar Office that covers Srinivasa Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2023 to 2024, with a 49% increase from Rs 1,005 per sq.ft in 2017 to 2023.

What are the other streets in Gooduvancheri and their guideline values?

Other streets in Gooduvancheri include Srinivasa Avenue at Rs 1,200 per sq.ft, Srinivasapuram and Srinu Prabhu Nagar both at Rs 2,001 per sq.ft, and Sri Rajeswari Nagar and Sriram Nagar at Rs 1,200 per sq.ft. Sri Lakshmi Nagar matches the guideline value of Srinivasa Nagar at Rs 1,500 per sq.ft.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated in Gooduvancheri?

Stamp duty in Gooduvancheri is calculated based on the higher of the guideline value or the sale price of the property. The current stamp duty rate is 7%, while the registration fee is 2% of the guideline value or sale price.