Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar is Rs 210 per sq.ft, effective from 1 July 2024. This area is located in Nemili village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has seen several revisions over the years. In 2007, the value was set at Rs 55 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2012. However, there was a decrease to Rs 134 per sq.ft in 2017. The 2023 revision marked an increase to Rs 200 per sq.ft, followed by a further increase to Rs 210 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2007 to 2012, the value rose by 264%, but then it fell by 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, there was a 5% increase from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of Srinivasa Nagar is below this median.

• Sri Ram Nagar: Rs 400 per sq.ft (2024)
• Sri Karpaga Vinayaga Nagar Part-1: Rs 1,000 per sq.ft (2024)
• Sri Ram Nagar Extn: Rs 300 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 210 per sq.ft (2024)
• Sowbagiya Co-operative Nagar: Rs 300 per sq.ft (2024)
• Subash Chandrabose Street: Rs 150 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 210 per sq.ft, the total guideline value would be Rs 2,10,000. The stamp duty at 7% would amount to Rs 14,700, and the registration fee at 2% would be Rs 4,200, totaling Rs 18,900. It is important to note that the 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 Srinivasa Nagar?

The Sub Registrar Office that covers Srinivasa Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nemili. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When selling a property, the guideline value ensures that the transaction is recorded accurately for taxation purposes. It provides a standardized measure for property valuation, helping to maintain transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 55 per sq.ft in 2007 to Rs 210 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty rates for properties in Srinivasa Nagar?

The stamp duty rate for properties in Srinivasa Nagar is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Srinivasa Nagar?

The Sub Registrar Office for Srinivasa Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Srinivasa Nagar?

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