Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Cheranancheri village under the Avadi SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - II land classification.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has raised it to Rs 1,320 per sq.ft. The register has no figure for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Cheranancheri

In Cheranancheri, there are 31 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 274 to Rs 3,000 per sq.ft. The median guideline value in this area is Rs 1,540 per sq.ft, making the guideline value of Srinivasa Nagar below this median.

• Sri Mookambikai Nagar Apple City: Rs 1,760 per sq.ft (2024)
• Sri Srinivasa Garden: Rs 330 per sq.ft (2024)
• Sri Srinivasa Garden Extn Phase-II: Rs 440 per sq.ft (2024)
• Sri Ambal Vijayalakshmi Nagar Phase-I: Rs 330 per sq.ft (2024)
• Suriya Narayana Garden: Rs 1,760 per sq.ft (2024)
• Suriya Narayana Garden Phase I: Rs 2,475 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. 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?

Srinivasa Nagar is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Cheranancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. If the sale price is lower than the guideline value, the duty will be calculated based on the guideline value to ensure compliance with registration norms.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar falls under the Residential Special Type - II land classification.

Where can I find the registration office for Srinivasa Nagar?

The registration office for Srinivasa Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for property in Srinivasa Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,320 per sq.ft, the stamp duty would be Rs 92,400.