Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Srinivasapuram village under the Kunrathur SRO, is Rs 2,000 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 the 2003 revision, the value was Rs 48 per sq.ft, which increased to Rs 400 per sq.ft in 2007. Following this, the value surged to Rs 1,800 per sq.ft in 2012, before declining to Rs 1,206 per sq.ft in 2017. The subsequent revision in 2023 saw an increase to Rs 1,800 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,000 per sq.ft.

Notably, there is no figure available for the year 2002 in the register for this street. The changes between revisions include a remarkable increase of 733% from 2003 to 2007, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023 and by 11% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 4067%.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,550 to Rs 7,400 per sq.ft, with the median value being Rs 1,650 per sq.ft. The guideline value for Srinivasa Nagar is above this median.

• Srinivasa Nagar Annexe: Rs 2,000 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,550 per sq.ft (2024)
• Sri Kamatchi Amman Nagar I & II: Rs 2,000 per sq.ft (2024)
• Sri Iyyappan Nagar: Rs 1,550 per sq.ft (2024)
• Sri Sai Nagar: Rs 3,600 per sq.ft (2024)
• Sri Sangeetham Nagar: Rs 1,550 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 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Srinivasapuram

The guideline value is a critical factor in the registration process when buying or selling property in Srinivasapuram. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is documented at a recognized value. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 48 per sq.ft in 2003 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 4067% over this period.

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

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Which Sub Registrar Office is responsible for Srinivasa Nagar?

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

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Special Type - I, which influences its guideline value and usage for property transactions.