Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 2,090 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 significant changes over the years. The 2007 revision recorded a value of Rs 450 per sq.ft, which increased dramatically to Rs 1,900 per sq.ft in 2012, marking a rise of 322%. However, in the 2017 revision, the value decreased to Rs 1,273 per sq.ft, a drop of 33%. The 2023 revision saw a substantial increase to Rs 1,900 per sq.ft, and the most recent 2024 revision further raised it to Rs 2,090 per sq.ft, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 364%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing Srinivasa Nagar's 2024 figure above this median.

• Sri Kamakshi Amman Nagar: Rs 1,655 per sq.ft (2024)
• Sri Devi Nagar: Rs 1,430 per sq.ft (2024)
• Sri Sakunthalanagar: Rs 1,430 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,815 per sq.ft (2024)
• Sri Ambal Nagar Lakshmi Avenue: Rs 1,540 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,540 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 450 per sq.ft in 2007 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 364%.

What is the land classification of Srinivasa Nagar?

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

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Srinivasa Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,46,300.