Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village, under the Ambattur SRO, and is classified as Residential Class II Type - III.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has seen several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 108 per sq.ft. This increased to Rs 125 per sq.ft in 2003, marking a 16% rise. The value then rose significantly to Rs 500 per sq.ft in 2007, which was a 300% increase. In 2012, the value remained at Rs 1,900 per sq.ft, showing no figure for this street in the register. The 2017 revision brought the value down to Rs 1,273 per sq.ft, a decline of 33%. The most recent revisions saw the value increase to Rs 1,900 per sq.ft in 2023, followed by a rise to Rs 2,000 per sq.ft in 2024, which is a 5% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,752%. The changes between the revisions indicate fluctuations in the guideline value, reflecting the historical context of the area.

Guideline values in Kathirvedu

Kathirvedu village has 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Srinivasa Nagar is above this median.

• Srinivasa Nagar Extn.: Rs 2,000 per sq.ft (2024)
• Sri Padmavathy Nagar: Rs 2,700 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,800 per sq.ft (2024)
• Sri Lakshmi Amman Nagar: Rs 1,500 per sq.ft (2024)
• Sri Ranga Avenue (Madras City Co- Operarive Building Socity Nagar): Rs 2,200 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,400 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 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, making the total Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

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 Kathirvedu

The guideline value is a crucial factor when registering property in Kathirvedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable charges. It is essential to note that the duty is charged based on the higher value between the guideline value and the sale price, ensuring that the appropriate fees are collected 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 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 108 per sq.ft in 2002 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 1,752% over the years.

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Class II Type - III, indicating its designation for residential use.

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

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Which office handles registrations for Srinivasa Nagar?

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