Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Malayambakkam village under the Kunrathur SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is classified as Residential 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 2007, the guideline value was Rs 250 per sq.ft, which increased to Rs 600 per sq.ft in 2012, marking a 140% rise. By 2017, it further increased to Rs 737 per sq.ft, reflecting a 23% change. The value then rose to Rs 1,100 per sq.ft in 2023, a substantial increase of 49%. The most recent revision in 2024 set the guideline value at Rs 1,210 per sq.ft, which is a 10% increase from the previous year.

There are no figures available in the register for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 384%.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, placing Srinivasa Nagar's 2024 figure above this median.

• Sri Moogambigai Nagar: Rs 880 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Krishna Garden: Rs 935 per sq.ft (2024)
• Sri Ramiah Nagar: Rs 935 per sq.ft (2024)
• Sri Janani Nagar: Rs 935 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 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total to Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our 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. For more information, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Malayambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers must ensure that the sale price is either equal to or higher than the guideline value to avoid any discrepancies at the time of registration.

When registering a property, the guideline value serves as a benchmark for the government to assess the value of the property being transacted. This ensures that the appropriate taxes are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, marking a total increase of 384% over the years.

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Special Type - I.

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

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Which office handles registrations for Srinivasa Nagar?

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