Guideline Value for Srinivasa Nagar

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Mugappair village under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a significant rise of 317%. However, between 2012 and 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a decline of 33%. The most recent figures show that the value rose to Rs 5,000 per sq.ft in 2023 and further increased to Rs 5,500 per sq.ft in 2024, which is a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 358%. The revisions for the years 2002 and 2003 do not have any figures listed for this street.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, indicating that Srinivasa Nagar's 2024 figure of Rs 5,500 per sq.ft is below this median.

• Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Kamaraj Ist Cross and Extension: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Sakthi Street: Rs 5,500 per sq.ft (2024)
• Sribalaji Avenue: Rs 7,100 per sq.ft (2024)
• Sparton Nagar: Rs 7,100 per sq.ft (2024)
• S.M. Narayanan Nagar: Rs 7,100 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. 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 detailed calculations.

Which Sub Registrar Office covers Srinivasa Nagar?

The Sub Registrar Office that covers Srinivasa Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Buyers and sellers should be aware that the guideline value can influence the total cost of the transaction. Therefore, understanding the current guideline value is essential for making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 358% over the years.

What is the land classification of Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees can amount to Rs 4,95,000.

Where is the Sub Registrar Office for Srinivasa Nagar located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.