Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Mudichur village under the Padappai SRO, is Rs 3,630 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Srinivasa Nagar has changed

The guideline value of Srinivasa Nagar has experienced several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which saw a significant increase to Rs 3,300 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,211 per sq.ft in 2017. The value then rose to Rs 3,300 per sq.ft in 2023, before reaching the current rate of Rs 3,630 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The jump from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was a remarkable 1220%. Overall, from 2007 to 2024, the guideline value has increased by 1352%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Srinivasa Nagar is above this median.

• Sri Ishwaryam Garden: Rs 1,760 per sq.ft (2024)
• Sriranga Nagar: Rs 2,200 per sq.ft (2024)
• Sri Ranganayaki Nagar: Rs 2,200 per sq.ft (2024)
• Sri Durga Avenue: Rs 1,210 per sq.ft (2024)
• Srisai Nagar: Rs 1,760 per sq.ft (2024)
• Sri Varadaraja Perumal Nagar: Rs 1,210 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 3,630 per sq.ft, the total guideline value would be Rs 36,30,000. The stamp duty at 7% would be Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, bringing the total to Rs 3,26,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded in accordance with government regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and accountability 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 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 3,630 per sq.ft in 2024, reflecting a total increase of 1352% over the years.

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

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

Where is the Sub Registrar Office for Srinivasa Nagar located?

The Sub Registrar Office for Srinivasa Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar is classified as Commercial Class I Type - I, which is relevant for determining its guideline value and usage.