Guideline Value for Srinivasa nagar

Srinivasa nagar guideline value

The current guideline value of Srinivasa nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Thirumazhisai village, under the Poonamallee SRO, and is classified as Commercial Special Type - I.

How the guideline value of Srinivasa nagar has changed

The guideline value for Srinivasa nagar has seen several revisions over the years. In 2002, the value was Rs 56 per sq.ft, which increased to Rs 67 per sq.ft in 2003. By 2007, the value rose significantly to Rs 150 per sq.ft, marking a 124% increase. In 2012, it remained at Rs 1,200 per sq.ft, but saw a decrease of 33% to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,257%. There are no figures available for the revisions in years other than those listed.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which is equal to the guideline value of Srinivasa nagar.

• Srivari Nagar: Rs 770 per sq.ft (2024)
• Sreevari Nagar Phase - II: Rs 990 per sq.ft (2024)
• Sreevari Nagar Phase - I Annex - III: Rs 1,650 per sq.ft (2024)
• Sreevari Nagar Phase I Annex II: Rs 1,210 per sq.ft (2024)
• Sreevari Nagar Annex: Rs 990 per sq.ft (2024)
• Sreevari Gardens Annex: Rs 1,650 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, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

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 assistance.

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

The guideline value is a crucial factor when buying or selling property in Thirumazhisai. It serves as the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

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 changed significantly from Rs 56 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 2,257% over this period.

What is the land classification of Srinivasa nagar?

Srinivasa nagar is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property in Srinivasa nagar?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Srinivasa nagar located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056, which covers Srinivasa nagar.