Guideline Value

Corporate

Guideline Value for Sripal Nagar

₹440/sq.ft.

The guideline value for Sripal Nagar in Grandlyon village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Grandlyon

Village

Redhills

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹27 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sripal Nagar

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Sripal Nagar guideline value

The current guideline value of Sripal Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sripal Nagar has changed

The guideline value for Sripal Nagar has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 27 per sq.ft. It increased significantly to Rs 200 per sq.ft in 2007, followed by a rise to Rs 400 per sq.ft in 2012. However, there was a decrease to Rs 268 per sq.ft in 2017. The 2023 revision saw the value increase to Rs 400 per sq.ft, and currently, it stands at Rs 440 per sq.ft from the 2024 revision.

In terms of percentage changes, the value increased by 641% from 2003 to 2007, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 1530%. The register has no figure for this street for the year 2002.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Sripal Nagar is below this median.

Stamp duty and registration fee for property in Sripal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It's important to note that the 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 details.

Which Sub Registrar Office covers Sripal Nagar?

The Sub Registrar Office that covers Sripal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Grandlyon, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is essential for buyers and sellers to be aware of the current guideline value in their area, as it affects the overall cost of the transaction. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sripal Nagar?

The current guideline value of Sripal Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 27 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1530% over this period.

What are the stamp duty and registration fees for property in Sripal Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 39,600, based on the applicable rates.

Which office handles property registrations for Sripal Nagar?

The Redhills Sub Registrar Office handles property registrations for Sripal Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees for property transactions, ensuring compliance with legal requirements during buying or selling.