Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value for Srinivasa Nagar in Ayappakkam village under the Ambattur SRO is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has seen several revisions over the years. Starting from Rs 125 per sq.ft in 2003, it increased significantly to Rs 611 per sq.ft in 2007, followed by a rise to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,200 per sq.ft in 2023 and then to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 940%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, which is equal to the current guideline value of Srinivasa Nagar.

• Srinivasa nagar main road (Srinivasa nagar): Rs 1,300 per sq.ft (2024)
• Srinivasa Perumal Koil Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Sri Ganapthy Avenue: Rs 880 per sq.ft (2024)
• Sri . Devi Karumari Amman Nagar: Rs 880 per sq.ft (2024)
• Sri. Bavani Nagar Extn - 3: Rs 1,100 per sq.ft (2024)
• Sri. Bavani Nagar Extn - 2: Rs 1,600 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, together amounting to Rs 1,17,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties to understand the value of the property based on official rates. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, with several revisions in between. The most significant increase was from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023.

What is the land classification for Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Srinivasa Nagar located?

The Sub Registrar Office covering Srinivasa Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.