Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Nandambakkam village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Srinivasa Nagar has changed

Over the years, the guideline value of Srinivasa Nagar has seen significant changes. The earliest recorded figure is from 2007, where it was Rs 50 per sq.ft. This value increased dramatically to Rs 700 per sq.ft in 2012, marking a rise of 1300%. However, it then decreased to Rs 469 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 700 per sq.ft in 2023, and most recently, it has increased to Rs 770 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 1440%.

Guideline values in Nandambakkam

Nandambakkam has 94 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 2,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 880 per sq.ft, placing the 2024 figure for Srinivasa Nagar below this median.

• Sri Mari Nagar: Rs 990 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 720 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 880 per sq.ft (2024)
• Sriperumbudur Kundrathur Road: Rs 990 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 770 per sq.ft (2024)
• Sri Ranganathanpuram Part I To V: Rs 990 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

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 Nandambakkam

The guideline value is a crucial factor in property transactions in Nandambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the registration process.

When buying or selling property, it is essential to be aware of the current guideline value, as it can influence the overall costs involved in the transaction. Ensuring compliance with the guideline value helps in smooth registration and legal processes.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 50 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, with various increases and decreases along the way, including a notable increase of 1300% from 2007 to 2012.

What is the median guideline value in Nandambakkam?

The median guideline value in Nandambakkam is Rs 880 per sq.ft, with Srinivasa Nagar's current value being below this median.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

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.