Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Peerklankaranai village under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - I.

How the guideline value of Srinivasa Nagar has changed

In the 2017 revision, the guideline value for Srinivasa Nagar was Rs 1,340 per sq.ft. The most recent revision in 2024 increased this value to Rs 2,200 per sq.ft, marking a significant increase of 64% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From the 2017 revision to the 2024 revision, the guideline value rose from Rs 1,340 to Rs 2,200 per sq.ft. This change reflects the adjustments made in the property valuation process, impacting how properties are registered in this area.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing the guideline value of Srinivasa Nagar above the median.

• Srinivasa Nagar (sankaran street): Rs 1,650 per sq.ft (2024)
• Srinivasan Nagar (Lakshmipuram Lay-out): Rs 2,200 per sq.ft (2024)
• Srinivasa Ragavan Street: Rs 1,650 per sq.ft (2024)
• Sriram Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Sriram Nagar 3rd Street: Rs 1,320 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Peerklankaranai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers must be aware that these costs are based on the guideline value or the sale price, whichever is higher, impacting the overall transaction cost.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a 64% increase over this period.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft, which is lower than the current value of Srinivasa Nagar.

What fees are associated with property registration in Srinivasa Nagar?

The fees associated with property registration include a stamp duty of 7% and a registration fee of 2% based on 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 located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.