Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Parivakkam village under the Poonamallee SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this area is Industries Type - I.

How the guideline value of Srinivasa Nagar has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2023 revision, there was a significant increase of 49%, bringing the value back up to Rs 1,200 per sq.ft. The most recent 2024 revision set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 6,750 per sq.ft, with a median value of Rs 1,800 per sq.ft. The guideline value for Srinivasa Nagar is below this median.

• Sairam City: Rs 990 per sq.ft (2024)
• Romaa Majestic: Rs 2,350 per sq.ft (2024)
• Prime Gardens: Rs 1,440 per sq.ft (2024)
• Pav Green Field: Rs 3,000 per sq.ft (2024)
• Oom Sundaram Nagar: Rs 1,550 per sq.ft (2024)
• Om Sakthi Nagar: Rs 660 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, together totaling Rs 1,18,800. 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for additional information.

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

The guideline value is a critical factor during the registration of property transactions in Parivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the appropriate charges are applied based on the property's value.

When buying or selling property, it is essential to be aware of the guideline value as it directly influences the overall cost of the transaction. Buyers should ensure that they are informed about the current rates to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, followed by Rs 1,200 per sq.ft in 2023, and finally Rs 1,320 per sq.ft in 2024.

What is the land classification for Srinivasa Nagar?

The land classification for Srinivasa Nagar is Industries Type - I, which indicates its designated use for industrial purposes.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Where can I find the Sub Registrar Office for Srinivasa Nagar?

The Sub Registrar Office covering Srinivasa Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find more information through the provided link.