Guideline Value for Srinivasa Perumal Nagar

Srinivasa Perumal Nagar guideline value

The current guideline value of Srinivasa Perumal Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This locality is situated in Navaloor village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Srinivasa Perumal Nagar has changed

The guideline value for Srinivasa Perumal Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in 2017. Following this, the value increased to Rs 500 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 550 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 10% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,000 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which aligns with the current guideline value of Srinivasa Perumal Nagar.

• Sri Krishna Nagar Part - I S.Nos.2/2b1, 2b2: Rs 550 per sq.ft (2024)
• Sri Krishna Nagar Part - I: Rs 550 per sq.ft (2024)
• Sri Ganeshji Nagar: Rs 440 per sq.ft (2024)
• Sri Varalakshmi Nagar: Rs 440 per sq.ft (2024)
• Sree Varalakshmi Avenue: Rs 550 per sq.ft (2024)
• S.L.S Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Perumal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which totals Rs 38,500, and the registration fee is 2%, amounting to Rs 11,000. Together, these fees come to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Srinivasa Perumal Nagar?

The Padappai Sub Registrar Office covers Srinivasa Perumal Nagar. The office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Navaloor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the current value of the property in the area.

Frequently asked questions

What is the current guideline value of Srinivasa Perumal Nagar?

The current guideline value of Srinivasa Perumal Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Srinivasa Perumal Nagar?

The land classification for Srinivasa Perumal Nagar is Residential Class I Type - I.

Where can I find the registration office for Srinivasa Perumal Nagar?

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

How is stamp duty calculated for properties in Srinivasa Perumal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%.