Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has seen significant changes over the years. In 2003, the value was Rs 57 per sq.ft, which increased to Rs 300 per sq.ft in 2007, marking a substantial rise of 426%. The value then rose to Rs 1,400 per sq.ft in 2012, reflecting an increase of 367%. However, from 2012 to 2017, the value decreased to Rs 938 per sq.ft, a drop of 33%. The 2017 revision saw the value rise to Rs 1,800 per sq.ft in 2023, which was a remarkable increase of 92%. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no figure available for Srinivasa Nagar in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 3,374%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is equal to the guideline value of Srinivasa Nagar.

• Sri Maruthi Nagar: Rs 1,980 per sq.ft (2024)
• Sri Kumarasamy Nagar: Rs 2,130 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 1,980 per sq.ft (2024)
• Sri Kamatchi Amman Nagar: Rs 1,980 per sq.ft (2024)
• Sri Sayee Nagar Extension: Rs 2,090 per sq.ft (2024)
• Sri Thangam Avenue: Rs 1,760 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would amount to Rs 39,600. Together, the total cost for these fees would be Rs 1,78,200. It is important to 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 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 Chikkarayapuram

The guideline value plays a crucial role in the registration process when buying or selling property in Chikkarayapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in real estate transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 57 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 3,374%.

What is the land classification for Srinivasa Nagar?

The land classification for Srinivasa Nagar is Mixed Special Type - I.

What are the stamp duty rates for properties in Srinivasa Nagar?

The stamp duty rate for properties in Srinivasa Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Srinivasa Nagar?

The Sub Registrar Office for Srinivasa Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.