Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Kannampalayam village under the Kunrathur SRO, is Rs 880 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 multiple revisions over the years. As of the 2007 revision, the value was set at Rs 150 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, representing a remarkable increase of 433%. However, in the 2017 revision, the value dropped to Rs 536 per sq.ft, a decrease of 33%. The subsequent 2023 revision raised the value to Rs 800 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 880 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 487%.

Guideline values in Kannampalayam

Kannampalayam village has a total of 75 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 765 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, making the current value of Rs 880 per sq.ft for Srinivasa Nagar below the median.

• Sri Padmavathi Nagar: Rs 885 per sq.ft (2024)
• Sri Kamadhenu Nagar: Rs 2,200 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 880 per sq.ft (2024)
• Sri Ambal Vijayalakshmi Nagar: Rs 2,460 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,320 per sq.ft (2024)
• Sree Kamatchi Amman Nagar: Rs 2,460 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar?

The Sub Registrar Office covering 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 details.

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

The guideline value is a crucial factor in property transactions in Kannampalayam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it directly influences the costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Srinivasa Nagar?

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

What is the median guideline value for streets in Kannampalayam?

The median guideline value for streets in Kannampalayam is Rs 1,375 per sq.ft, with Srinivasa Nagar's current value being below this median at Rs 880 per sq.ft.