Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Vada Mangalam village under the Sunguvarchattram SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as 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 most recent revision in 2024 maintains the value at Rs 400 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 268 per sq.ft, marking a significant increase of 49% from the previous 2012 revision, which was also Rs 400 per sq.ft. The register does not have figures for the years 2007, 2003, and 2002 for this street.

Looking back, the 2012 revision's value of Rs 400 per sq.ft was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 400 per sq.ft.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing the guideline value of Srinivasa Nagar above this median.

• SriLakshi Nagar: Rs 350 per sq.ft (2024)
• Thriuvalluvar Street: Rs 200 per sq.ft (2024)
• Sanarpandai Muslim Kudiiruppu: Rs 250 per sq.ft (2024)
• VGP Ramanujar Town Part I to IV: Rs 400 per sq.ft (2024)
• Periyapallaiyathamman Kovil Street: Rs 200 per sq.ft (2024)
• N.S.K Salai: Rs 350 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 Srinivasa Nagar?

The Sub Registrar Office that covers Srinivasa Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vada Mangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is assessed fairly for taxation purposes.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a significant increase from Rs 268 per sq.ft in 2017, marking a 49% rise. The 2023 revision also maintained the value at Rs 400 per sq.ft.

What is the median guideline value in Vada Mangalam?

The median guideline value for the 23 streets in Vada Mangalam under the Sunguvarchattram SRO is Rs 250 per sq.ft, with Srinivasa Nagar's value being above this median.

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

The stamp duty rate for property in Srinivasa Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Srinivasa Nagar located?

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