Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Class II 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 most recent revision took place in 2024, setting the value at Rs 1,540 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,400 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 938 per sq.ft, marking a substantial increase of 49% to the 2023 figure. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This upward trend reflects the changes in property valuation over the years, providing a clearer picture of the current market in Srinivasa Nagar.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, indicating that the guideline value for Srinivasa Nagar is below this median.

• Srinivasa Colony Nagar: Rs 1,540 per sq.ft (2024)
• Sri MuthuSwamy Avenue: Rs 1,540 per sq.ft (2024)
• Sri Murugan Nagar: Rs 1,540 per sq.ft (2024)
• Sri Meenatchi Nagar: Rs 1,870 per sq.ft (2024)
• Sri Lakshmi Avenue: Rs 1,540 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,750 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 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations based on your property 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 Mangadu -A

The guideline value plays a crucial role in the registration process for property transactions in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the transaction process. This ensures that both buyers and sellers are aware of the financial obligations involved in property transfers.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 938 per sq.ft to Rs 1,540 per sq.ft in 2024, marking an overall increase of 64%.

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

The stamp duty for property in Srinivasa Nagar is 7%, while the registration fee is 2%. For a property valued at Rs 15,40,000, the total fees would amount to Rs 1,38,600.

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 land classification of Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Class II Type - I according to the registration department's guidelines.