Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Santhavellur village, is Rs 305 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar has changed

Over the years, the guideline value of Srinivasa Nagar has seen several revisions. The earliest recorded value is from 2012, which was Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 300 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 305 per sq.ft, a 2% increase from the previous year.

It is important to note that the register has no figures for Srinivasa Nagar in the years 2002, 2003, and 2007. Overall, comparing the years 2012 to 2024, the guideline value has seen a marginal increase of 2%.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 200 to Rs 2,800 per sq.ft. The median value for these streets is Rs 500 per sq.ft, indicating that the guideline value of Srinivasa Nagar is below this median.

• Sri ramanujar nagar: Rs 600 per sq.ft (2024)
• Sri Saravanabhavan Nagar: Rs 1,000 per sq.ft (2024)
• Sri sastha nagar: Rs 1,046 per sq.ft (2024)
• Sri Usha Nagar: Rs 700 per sq.ft (2024)
• Sri Andal Nagar: Rs 305 per sq.ft (2024)
• Sri vishnu gardens: Rs 600 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 305 per sq.ft, the total guideline value amounts to Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would be Rs 6,100, bringing the total cost for these fees to Rs 27,450. 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Santhavellur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps maintain a standardized method for property valuation.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 305 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023, and finally to Rs 305 per sq.ft in 2024.

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Class I Type - I under the guideline value register.

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

For a property valued at Rs 3,05,000, the stamp duty is Rs 21,350 and the registration fee is Rs 6,100, totaling Rs 27,450.

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

The Sub Registrar Office for Srinivasa Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.